Jacobi Capital Management LLC Invests $226,000 in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Jacobi Capital Management LLC purchased a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 692 shares of the financial services provider’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Metis Global Partners LLC boosted its stake in LPL Financial by 7.4% during the fourth quarter. Metis Global Partners LLC now owns 1,015 shares of the financial services provider’s stock valued at $331,000 after buying an additional 70 shares in the last quarter. Dynasty Wealth Management LLC lifted its holdings in shares of LPL Financial by 58.8% during the fourth quarter. Dynasty Wealth Management LLC now owns 6,165 shares of the financial services provider’s stock valued at $2,013,000 after purchasing an additional 2,283 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of LPL Financial by 8.0% during the fourth quarter. QRG Capital Management Inc. now owns 1,812 shares of the financial services provider’s stock valued at $592,000 after purchasing an additional 134 shares during the last quarter. Versor Investments LP purchased a new stake in shares of LPL Financial during the fourth quarter valued at $1,833,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of LPL Financial during the fourth quarter valued at $27,518,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA stock opened at $358.86 on Tuesday. The stock has a 50 day moving average of $352.80 and a two-hundred day moving average of $296.76. 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 company has a market capitalization of $26.76 billion, a P/E ratio of 25.56, a P/E/G ratio of 0.94 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 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%. As a group, equities analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The business 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. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.33%. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Analyst Ratings Changes

A number of brokerages have recently commented on LPLA. Barclays increased their price objective on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday, January 31st. JMP Securities reissued a “market outperform” rating and set a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and increased their price objective for the company from $277.00 to $413.00 in a report on Thursday, December 19th. Citigroup increased their price objective on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, UBS Group raised their target price on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $379.17.

Insider Buying and Selling

In related news, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aneri Jambusaria sold 305 shares of the firm’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 transaction, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,770 shares of company stock worth $12,663,312 in the last 90 days. 1.30% of the stock is owned by company 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.