Northwest & Ethical Investments L.P. Purchases Shares of 1,300 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Northwest & Ethical Investments L.P. purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,300 shares of the financial services provider’s stock, valued at approximately $424,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LPLA. Brooklyn Investment Group bought a new stake in shares of LPL Financial in the 3rd quarter worth about $43,000. Jones Financial Companies Lllp grew its holdings in shares of LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 43 shares during the last quarter. Atala Financial Inc bought a new stake in shares of LPL Financial in the 4th quarter worth about $59,000. Compass Financial Services Inc bought a new stake in shares of LPL Financial in the 4th quarter worth about $65,000. Finally, R Squared Ltd bought a new stake in shares of LPL Financial in the 4th quarter worth about $78,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

LPL Financial stock opened at $327.90 on Friday. The company has a market cap of $24.49 billion, a PE ratio of 23.35, a PEG ratio of 0.94 and a beta of 0.82. The company’s 50-day moving average is $351.95 and its two-hundred day moving average is $306.82. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. LPL Financial’s dividend payout ratio is 8.55%.

Wall Street Analysts Forecast Growth

LPLA has been the topic of several analyst reports. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Morgan Stanley increased their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Barclays increased their price objective on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods increased their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $379.17.

Insider Activity at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Matthew J. Audette sold 28,777 shares of the firm’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 transaction of $10,507,633.78. Following the sale, the chief financial officer now owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,465 shares of company stock worth $12,562,070 in the last ninety days. Company insiders own 1.30% of the company’s stock.

About LPL Financial

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.