Perennial Investment Advisors LLC Purchases Shares of 773 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Perennial Investment Advisors LLC acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the fourth quarter, HoldingsChannel reports. The fund acquired 773 shares of the financial services provider’s stock, valued at approximately $253,000.

Other institutional investors also recently modified their holdings of the company. Graney & King LLC acquired a new position in LPL Financial during the fourth quarter worth approximately $30,000. Jones Financial Companies Lllp increased its holdings in shares of LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 43 shares during the last quarter. Atala Financial Inc acquired a new stake in LPL Financial during the 4th quarter valued at $59,000. Compass Financial Services Inc acquired a new stake in LPL Financial during the 4th quarter valued at $65,000. Finally, R Squared Ltd bought a new position in LPL Financial during the fourth quarter worth $78,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup reduced their price objective on LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Barclays increased their target price on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $277.00 to $413.00 in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $380.42.

LPL Financial Stock Down 9.4 %

LPLA stock opened at $283.31 on Monday. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04. The business has a 50-day simple moving average of $348.34 and a 200 day simple moving average of $316.43. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market cap of $21.13 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.42%. LPL Financial’s dividend payout ratio (DPR) is currently 8.55%.

Insider Buying and Selling

In other news, Director Marc Eliot Cohen sold 1,100 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock worth $12,562,070 in the last ninety days. 1.30% of the stock is owned by insiders.

LPL Financial Company 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.