Egerton Capital UK LLP Invests $84.15 Million in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Egerton Capital UK LLP purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 257,710 shares of the financial services provider’s stock, valued at approximately $84,145,000. LPL Financial comprises 1.0% of Egerton Capital UK LLP’s holdings, making the stock its 25th largest position. Egerton Capital UK LLP owned approximately 0.34% of LPL Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of LPL Financial during the 4th quarter worth approximately $295,982,000. FMR LLC boosted its stake in LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after acquiring an additional 650,675 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after acquiring an additional 276,166 shares in the last quarter. Southpoint Capital Advisors LP lifted its stake in shares of LPL Financial by 50.0% in the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock valued at $174,472,000 after buying an additional 250,000 shares in the last quarter. Finally, Maverick Capital Ltd. lifted its position in shares of LPL Financial by 82.0% during the third quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after purchasing an additional 223,931 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Activity at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the transaction, the director now owns 4,075 shares of the company’s stock, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the sale, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,465 shares of company stock worth $12,562,070. 1.00% of the stock is currently owned by insiders.

LPL Financial Trading Up 0.7 %

LPLA opened at $313.23 on Wednesday. The firm has a market cap of $23.39 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04. The business’s 50 day moving average is $353.37 and its two-hundred day moving average is $301.68. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. LPL Financial’s dividend payout ratio is currently 8.55%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LPLA. Keefe, Bruyette & Woods raised their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. JMP Securities restated a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. Wells Fargo & Company boosted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Barclays raised their price objective on shares of LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $379.17.

About LPL Financial

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.