American Century Companies Inc. Acquires 15,554 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

American Century Companies Inc. boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 489,580 shares of the financial services provider’s stock after acquiring an additional 15,554 shares during the quarter. American Century Companies Inc.’s holdings in LPL Financial were worth $159,853,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in shares of LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after buying an additional 43 shares during the period. Atala Financial Inc bought a new stake in LPL Financial during the 4th quarter valued at approximately $59,000. Brooklyn Investment Group bought a new stake in LPL Financial during the 3rd quarter valued at approximately $43,000. Compass Financial Services Inc bought a new stake in LPL Financial during the 4th quarter valued at approximately $65,000. Finally, R Squared Ltd bought a new stake in LPL Financial during the 4th quarter valued at approximately $78,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Activity at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the company’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 completion of the sale, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. The trade was a 21.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,465 shares of company stock valued at $12,562,070 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Trading Down 2.0 %

LPLA opened at $327.90 on Friday. The firm has a market cap of $24.49 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 0.94 and a beta of 0.82. 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 12 month low of $187.19 and a 12 month high of $384.04. The stock has a fifty day moving average price of $351.95 and a 200-day moving average price of $307.43.

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

LPL Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JMP Securities reissued a “market outperform” rating and set a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. UBS Group lifted their price objective on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $379.17.

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.