LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 20.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,301 shares of the financial services provider’s stock after purchasing an additional 552 shares during the period. CIBC Asset Management Inc’s holdings in LPL Financial were worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in LPL Financial in the third quarter worth $31,000. Brooklyn Investment Group purchased a new position in LPL Financial in the third quarter worth $43,000. Compass Financial Services Inc purchased a new position in LPL Financial in the fourth quarter worth $65,000. R Squared Ltd purchased a new position in LPL Financial in the fourth quarter worth $78,000. Finally, Ameliora Wealth Management Ltd. purchased a new position in LPL Financial in the fourth quarter worth $108,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LPLA. JPMorgan Chase & Co. lifted their price target on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley lifted their price target on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.17.

Insider Transactions at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the transaction, the chief financial officer now owns 13,663 shares in the company, valued at $4,988,907.82. This represents a 67.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

LPL Financial Stock Down 2.0 %

Shares of NASDAQ:LPLA opened at $371.93 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04. The stock has a market capitalization of $27.85 billion, a P/E ratio of 26.49, a PEG ratio of 0.94 and a beta of 0.87. The stock has a 50-day simple moving average of $348.99 and a 200-day simple moving average of $290.33.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping 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%. Equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s payout ratio is currently 8.55%.

LPL Financial Profile

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.