Jennison Associates LLC Acquires 13,406 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Jennison Associates LLC grew its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,256 shares of the financial services provider’s stock after acquiring an additional 13,406 shares during the quarter. Jennison Associates LLC’s holdings in LPL Financial were worth $35,347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LPLA. Ashton Thomas Securities LLC bought a new stake in LPL Financial during the third quarter valued at approximately $31,000. Paladin Wealth LLC purchased a new stake in shares of LPL Financial during the 3rd quarter valued at $34,000. Brooklyn Investment Group bought a new stake in shares of LPL Financial during the 3rd quarter worth $43,000. R Squared Ltd purchased a new position in LPL Financial in the fourth quarter worth $78,000. Finally, First Horizon Advisors Inc. increased its stake in LPL Financial by 32.3% in the third quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now directly owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LPLA shares. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group lifted their price target on shares of LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods upped their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. The Goldman Sachs Group lifted their target price on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, JMP Securities restated a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.50.

LPL Financial Stock Down 0.6 %

NASDAQ LPLA opened at $361.89 on Wednesday. The business’s 50-day moving average is $337.13 and its 200 day moving average is $276.48. The stock has a market capitalization of $27.10 billion, a PE ratio of 25.78, a PEG ratio of 1.13 and a beta of 0.87. 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 $375.74.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping 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%. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.4 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders 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 annualized dividend and a yield of 0.33%. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

LPL Financial Company 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.