Oak Thistle LLC Buys 1,094 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Oak Thistle LLC grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 122.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,991 shares of the financial services provider’s stock after buying an additional 1,094 shares during the quarter. Oak Thistle LLC’s holdings in LPL Financial were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in LPL Financial in the second quarter valued at about $25,000. Federated Hermes Inc. increased its position in shares of LPL Financial by 23.8% during the 2nd quarter. Federated Hermes Inc. now owns 13,585 shares of the financial services provider’s stock valued at $3,794,000 after purchasing an additional 2,616 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of LPL Financial by 5.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,935 shares of the financial services provider’s stock worth $820,000 after purchasing an additional 148 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of LPL Financial by 0.5% in the second quarter. Envestnet Asset Management Inc. now owns 328,963 shares of the financial services provider’s stock worth $91,879,000 after buying an additional 1,611 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in LPL Financial by 11.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider’s stock valued at $247,077,000 after buying an additional 90,020 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LPLA shares. Citigroup increased their price target on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. raised LPL Financial from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $288.00 to $397.00 in a report on Tuesday, January 7th. Jefferies Financial Group cut their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Finally, TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. One equities research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $351.50.

LPL Financial Trading Up 1.1 %

LPL Financial stock opened at $338.25 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The firm’s 50 day moving average price is $326.06 and its 200-day moving average price is $266.91. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $344.86. The stock has a market cap of $25.33 billion, a P/E ratio of 25.43, a PEG ratio of 1.60 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate of $3.69 by $0.47. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.74 EPS. On average, equities analysts predict that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.35%. The ex-dividend date was Thursday, November 14th. LPL Financial’s dividend payout ratio is presently 9.02%.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were 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 directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.

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.