Capital Fund Management S.A. boosted its position in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182,000 shares of the financial services provider’s stock after buying an additional 19,000 shares during the period. Capital Fund Management S.A. owned approximately 0.20% of LPL Financial worth $10,399,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Meridian Wealth Management LLC acquired a new stake in LPL Financial during the third quarter worth about $316,000. Wells Fargo & Company MN grew its stake in LPL Financial by 88.5% during the third quarter. Wells Fargo & Company MN now owns 342,284 shares of the financial services provider’s stock worth $17,653,000 after buying an additional 160,738 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of LPL Financial by 124.6% in the 4th quarter. Frontier Capital Management Co. LLC now owns 502,352 shares of the financial services provider’s stock valued at $28,704,000 after purchasing an additional 278,713 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of LPL Financial in the 2nd quarter valued at approximately $1,273,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of LPL Financial by 72.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 656,891 shares of the financial services provider’s stock valued at $33,882,000 after purchasing an additional 275,138 shares in the last quarter. Hedge funds and other institutional investors own 89.86% of the company’s stock.
LPL Financial Holdings Inc (NASDAQ:LPLA) opened at $64.66 on Friday. The stock has a market cap of $5,774.87, a P/E ratio of 21.93, a P/E/G ratio of 1.13 and a beta of 1.74. LPL Financial Holdings Inc has a fifty-two week low of $37.38 and a fifty-two week high of $64.82. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.54.
LPL Financial declared that its board has initiated a stock repurchase program on Tuesday, December 5th that permits the company to buyback $359.00 million in shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In related news, insider John Andrew Kalbaugh sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $62.61, for a total value of $626,100.00. Following the completion of the transaction, the insider now owns 38,050 shares in the company, valued at approximately $2,382,310.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William P. Jr. Morrissey sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $62.74, for a total transaction of $1,254,800.00. Following the completion of the transaction, the director now owns 37,541 shares of the company’s stock, valued at approximately $2,355,322.34. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.
A number of equities research analysts have recently weighed in on the stock. Nomura raised their price target on shares of LPL Financial from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley raised their price target on shares of LPL Financial from $62.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Credit Suisse Group raised their price target on shares of LPL Financial from $77.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. SunTrust Banks restated a “buy” rating and issued a $75.00 price target on shares of LPL Financial in a research note on Friday, February 2nd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $73.00 price target on shares of LPL Financial in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $66.00.
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LPL Financial Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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