Egerton Capital UK LLP Takes Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Egerton Capital UK LLP acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 257,710 shares of the financial services provider’s stock, valued at approximately $84,145,000. LPL Financial accounts for 1.0% of Egerton Capital UK LLP’s holdings, making the stock its 25th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in shares of LPL Financial in the 3rd quarter valued at about $31,000. Brooklyn Investment Group acquired a new stake in LPL Financial during the third quarter worth approximately $43,000. Jones Financial Companies Lllp boosted 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 valued at $45,000 after buying an additional 43 shares during the period. Compass Financial Services Inc acquired a new stake in shares of LPL Financial during the 4th quarter worth $65,000. Finally, R Squared Ltd acquired a new stake in shares of LPL Financial during the 4th quarter worth $78,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Activity

In related news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial 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 directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 completion of the transaction, the chief financial officer now directly 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. In the last quarter, insiders sold 34,465 shares of company stock worth $12,562,070. Insiders own 1.00% of the company’s stock.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $313.23 on Wednesday. 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 capitalization of $23.39 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 0.94 and a beta of 0.82. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04. The stock’s 50-day simple moving average is $353.37 and its 200-day simple moving average is $301.68.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating 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, analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued 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 0.38%. LPL Financial’s dividend payout ratio is presently 8.55%.

Analysts Set New Price Targets

Several analysts recently weighed in on LPLA shares. JMP Securities reaffirmed a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a research note on Friday, January 31st. UBS Group raised their price objective on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. 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. Morgan Stanley lifted their target price on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Citigroup raised their price objective on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $379.17.

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.