LPL Financial Holdings Inc. $LPLA is Brant Point Investment Management LLC’s 7th Largest Position

Brant Point Investment Management LLC cut its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,740 shares of the financial services provider’s stock after selling 3,575 shares during the period. LPL Financial comprises about 0.9% of Brant Point Investment Management LLC’s holdings, making the stock its 7th largest holding. Brant Point Investment Management LLC’s holdings in LPL Financial were worth $7,408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in LPL Financial by 4.0% in the third quarter. Vanguard Group Inc. now owns 8,303,768 shares of the financial services provider’s stock valued at $2,762,581,000 after purchasing an additional 317,002 shares during the period. Dodge & Cox boosted its holdings in LPL Financial by 18.6% in the fourth quarter. Dodge & Cox now owns 3,948,970 shares of the financial services provider’s stock valued at $1,410,454,000 after purchasing an additional 619,715 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in LPL Financial by 14.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,719,447 shares of the financial services provider’s stock valued at $1,328,475,000 after purchasing an additional 477,094 shares during the period. Capital World Investors boosted its holdings in LPL Financial by 37.9% in the fourth quarter. Capital World Investors now owns 3,625,357 shares of the financial services provider’s stock valued at $1,294,869,000 after purchasing an additional 996,806 shares during the period. Finally, Lone Pine Capital LLC boosted its holdings in LPL Financial by 20.5% in the third quarter. Lone Pine Capital LLC now owns 2,255,714 shares of the financial services provider’s stock valued at $750,453,000 after purchasing an additional 383,466 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at LPL Financial

In other news, CFO Matthew J. Audette sold 1,110 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total value of $366,311.10. Following the completion of the sale, the chief financial officer directly owned 19,803 shares of the company’s stock, valued at approximately $6,535,188.03. The trade was a 5.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

LPL Financial Stock Up 3.6%

Shares of NASDAQ LPLA opened at $295.66 on Friday. The company has a market capitalization of $23.65 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56. The business has a 50-day moving average of $301.82 and a two-hundred day moving average of $329.73. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $403.58.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.49 by $0.11. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.98 billion. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.LPL Financial’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the previous year, the business earned $5.15 EPS. On average, analysts forecast that LPL Financial Holdings Inc. will post 22.98 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, May 21st. LPL Financial’s payout ratio is presently 10.71%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LPLA shares. UBS Group lifted their target price on LPL Financial from $380.00 to $395.00 and gave the company a “buy” rating in a report on Friday, May 1st. Keefe, Bruyette & Woods assumed coverage on LPL Financial in a report on Wednesday, April 8th. They issued an “outperform” rating and a $350.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a report on Monday, April 27th. Barclays lifted their price target on LPL Financial from $369.00 to $412.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Jefferies Financial Group decreased their price target on LPL Financial from $464.00 to $383.00 and set a “buy” rating for the company in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $398.86.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.