LPL Financial Holdings Inc (LPLA) Position Lifted by HBK Investments L P
HBK Investments L P increased its holdings in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 50.9% during the fourth quarter, Holdings Channel reports. The fund owned 21,885 shares of the financial services provider’s stock after acquiring an additional 7,385 shares during the quarter. HBK Investments L P’s holdings in LPL Financial were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the stock. Guggenheim Capital LLC acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $1,606,000. Deutsche Bank AG increased its holdings in shares of LPL Financial by 22.7% during the 4th quarter. Deutsche Bank AG now owns 375,427 shares of the financial services provider’s stock worth $21,449,000 after acquiring an additional 69,386 shares during the last quarter. Sapphire Star Partners LP acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $740,000. Highland Capital Management LP increased its holdings in shares of LPL Financial by 74.5% during the 4th quarter. Highland Capital Management LP now owns 174,500 shares of the financial services provider’s stock worth $9,971,000 after acquiring an additional 74,500 shares during the last quarter. Finally, Blue Pool Management Ltd. acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $2,474,000. 93.61% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on LPLA shares. Zacks Investment Research raised LPL Financial from a “hold” rating to a “strong-buy” rating and set a $68.00 target price on the stock in a report on Friday, January 5th. BidaskClub lowered LPL Financial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 16th. Morgan Stanley raised LPL Financial from an “underweight” rating to an “equal weight” rating and set a $42.00 target price on the stock in a report on Wednesday, January 3rd. Wells Fargo reissued a “market perform” rating and set a $60.00 target price (up from $52.00) on shares of LPL Financial in a report on Thursday, January 4th. Finally, Citigroup boosted their target price on LPL Financial from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $70.50.
LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, February 1st. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.52. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. LPL Financial had a return on equity of 29.42% and a net margin of 5.58%. equities analysts predict that LPL Financial Holdings Inc will post 3.9 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a $0.25 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.00 annualized dividend and a yield of 1.56%. LPL Financial’s dividend payout ratio (DPR) is presently 38.76%.
LPL Financial announced that its board has authorized a share repurchase plan on Tuesday, December 5th that authorizes the company to buyback $359.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other news, Director William P. Jr. Morrissey sold 20,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $62.74, for a total transaction of $1,254,800.00. Following the completion of the sale, the director now directly owns 37,541 shares in the company, valued at approximately $2,355,322.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Andrew Kalbaugh sold 10,000 shares of the company’s stock in a transaction 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 sale, the insider now owns 38,050 shares of the company’s stock, valued at $2,382,310.50. The disclosure for this sale can be found here. Insiders sold a total of 1,469,435 shares of company stock valued at $92,312,374 over the last 90 days. 4.00% of the stock is currently owned by corporate insiders.
About LPL Financial
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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