Vestcor Inc Has $927,000 Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Vestcor Inc increased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 80.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,838 shares of the financial services provider’s stock after purchasing an additional 1,262 shares during the quarter. Vestcor Inc’s holdings in LPL Financial were worth $927,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after buying an additional 650,675 shares during the last quarter. Geode Capital Management LLC increased its holdings in LPL Financial by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock worth $333,581,000 after purchasing an additional 36,474 shares in the last quarter. JPMorgan Chase & Co. raised its position in LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after purchasing an additional 276,166 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of LPL Financial during the fourth quarter valued at about $295,982,000. Finally, Southpoint Capital Advisors LP grew its holdings in shares of LPL Financial by 50.0% during the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after purchasing an additional 250,000 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at LPL Financial

In other news, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction dated 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 directly owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % 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 90 days. Insiders own 1.00% of the company’s stock.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $321.99 on Friday. The company has a market cap of $24.05 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04. The business has a 50 day moving average price of $352.35 and a 200-day moving average price of $303.67.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping 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 fiscal year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders 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 0.37%. LPL Financial’s dividend payout ratio is currently 8.55%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. Wells Fargo & Company boosted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group raised their target price on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Barclays upped their price target on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup raised their price objective on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One equities research 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 MarketBeat.com, 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.