Picton Mahoney Asset Management Buys 56,668 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Picton Mahoney Asset Management lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 9,444.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,268 shares of the financial services provider’s stock after acquiring an additional 56,668 shares during the quarter. Picton Mahoney Asset Management’s holdings in LPL Financial were worth $18,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of LPL Financial during the third quarter worth about $31,000. Jones Financial Companies Lllp increased its holdings in LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Atala Financial Inc bought a new stake in LPL Financial in the fourth quarter worth approximately $59,000. Brooklyn Investment Group bought a new stake in LPL Financial in the third quarter worth approximately $43,000. Finally, Compass Financial Services Inc bought a new stake in LPL Financial in the fourth quarter worth approximately $65,000. 95.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LPLA shares. Keefe, Bruyette & Woods lifted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. UBS Group lifted their target price on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Wells Fargo & Company lifted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Morgan Stanley boosted their price objective on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $379.17.

LPL Financial Stock Up 4.2 %

Shares of NASDAQ:LPLA opened at $321.99 on Friday. The stock has a market cap of $24.05 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 0.94 and a beta of 0.82. 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 Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04. The business’s 50 day moving average is $352.58 and its 200 day moving average is $302.47.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders 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 yield of 0.37%. LPL Financial’s dividend payout ratio is currently 8.55%.

Insiders Place Their Bets

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 16,538 shares of the company’s stock, valued at approximately $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the transaction, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,465 shares of company stock valued at $12,562,070. Insiders own 1.00% of the company’s stock.

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.