Dana Investment Advisors Inc. Has $2.01 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Dana Investment Advisors Inc. raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,149 shares of the financial services provider’s stock after purchasing an additional 625 shares during the period. Dana Investment Advisors Inc.’s holdings in LPL Financial were worth $2,008,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC increased its holdings in shares of LPL Financial by 24.4% in the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after purchasing an additional 650,675 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of LPL Financial by 2.6% in the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock valued at $333,581,000 after purchasing an additional 36,474 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of 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. Southpoint Capital Advisors LP increased its holdings in shares of LPL Financial by 50.0% in the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock valued at $174,472,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in shares of LPL Financial by 21.6% in the third quarter. Westfield Capital Management Co. LP now owns 710,867 shares of the financial services provider’s stock valued at $165,369,000 after purchasing an additional 126,266 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Trading Down 0.9 %

LPLA opened at $333.90 on Friday. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $384.04. The company has a 50-day simple moving average of $353.65 and a 200 day simple moving average of $299.14. 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 stock has a market capitalization of $24.94 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 0.94 and a beta of 0.82.

LPL Financial (NASDAQ:LPLA) last posted its earnings results 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 net margin of 8.55% and a return on equity of 49.41%. Analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.36%. LPL Financial’s dividend payout ratio (DPR) is currently 8.55%.

Insider Transactions at LPL Financial

In other news, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now owns 16,538 shares of the company’s stock, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 of the company’s stock, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Citigroup upped their price target on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Barclays upped their price target on shares of LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and upped their price target for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and a consensus 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.