Virtu Financial LLC Makes New $260,000 Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Virtu Financial LLC acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 798 shares of the financial services provider’s stock, valued at approximately $260,000.

Other large investors have also modified their holdings of the company. Rockefeller Capital Management L.P. purchased a new stake in shares of LPL Financial during the third quarter valued at $2,633,000. Truist Financial Corp lifted its stake in LPL Financial by 7.9% during the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider’s stock valued at $62,740,000 after buying an additional 14,106 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of LPL Financial by 15.7% in the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock worth $5,913,000 after buying an additional 3,444 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of LPL Financial by 4.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock worth $10,190,000 after buying an additional 1,383 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of LPL Financial by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider’s stock worth $109,625,000 after acquiring an additional 13,936 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the transaction, the chief financial officer now owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now owns 4,075 shares of the company’s stock, 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. In the last ninety days, insiders have sold 34,465 shares of company stock valued at $12,562,070. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Price Performance

NASDAQ LPLA opened at $336.89 on Friday. 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 $25.16 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04. The company has a 50 day moving average price of $351.92 and a two-hundred day moving average price of $311.11.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial’s payout ratio is 8.55%.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of recent analyst reports. 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. Citigroup increased their target price on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a report on Friday, January 10th. UBS Group lifted their price target on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and an average price target 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.