LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 335,749 shares of the financial services provider’s stock after purchasing an additional 13,936 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.45% of LPL Financial worth $109,625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. New York State Teachers Retirement System raised its stake in LPL Financial by 96.8% during the 3rd quarter. New York State Teachers Retirement System now owns 3,371 shares of the financial services provider’s stock worth $784,000 after acquiring an additional 1,658 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of LPL Financial by 5.2% during the third quarter. Stephens Inc. AR now owns 1,054 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 52 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of LPL Financial by 2.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 7,417 shares of the financial services provider’s stock worth $1,725,000 after purchasing an additional 190 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of LPL Financial by 11.2% in the 3rd quarter. Amalgamated Bank now owns 5,593 shares of the financial services provider’s stock valued at $1,301,000 after purchasing an additional 563 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of LPL Financial by 15.7% in the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock valued at $5,913,000 after purchasing an additional 3,444 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $333.90 on Friday. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04. The company has a 50-day moving average price of $353.69 and a 200 day moving average price of $299.92. The company has a market cap of $24.94 billion, a P/E ratio of 23.78, a PEG 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 (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business 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 of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. LPL Financial’s payout ratio is currently 8.55%.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup lifted their price target on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. UBS Group lifted their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, January 31st. JMP Securities reiterated a “market outperform” rating and issued a $435.00 price target on shares of LPL Financial in a research report on Friday, January 31st. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, Morgan Stanley upped their target price 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

Insider Transactions at LPL Financial

In other news, CFO Matthew J. Audette sold 28,777 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the sale, the chief financial officer now owns 13,663 shares of the company’s stock, valued at $4,988,907.82. The trade was a 67.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $402,435.00. Following the completion of the transaction, the director now directly owns 4,075 shares of the company’s stock, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock valued at $12,562,070 in the last ninety days. 1.30% of the stock is currently owned by company insiders.

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.