Amundi Buys 90,775 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Amundi raised its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 166.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 145,443 shares of the financial services provider’s stock after purchasing an additional 90,775 shares during the period. Amundi’s holdings in LPL Financial were worth $48,494,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LPLA. Ashton Thomas Securities LLC bought a new position in shares of LPL Financial during the 3rd quarter valued at about $31,000. Brooklyn Investment Group bought a new position in shares of LPL Financial during the 3rd quarter valued at about $43,000. Jones Financial Companies Lllp boosted its holdings in shares of LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of LPL Financial during the 4th quarter valued at about $65,000. Finally, R Squared Ltd bought a new position in shares of LPL Financial during the 4th quarter valued at about $78,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

LPL Financial stock opened at $319.20 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04. The firm has a market capitalization of $23.84 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The company’s 50-day moving average is $353.10 and its 200 day moving average is $302.31.

LPL Financial (NASDAQ:LPLA) last issued 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%. Research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

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 given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Insider Transactions at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the 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 transaction, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the transaction, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,465 shares of company stock valued at $12,562,070. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on LPLA. Wells Fargo & Company increased their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $435.00 price target on shares of LPL Financial in a report on Friday, January 31st. Morgan Stanley increased their price target on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. According to 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.