2Xideas AG Increases Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

2Xideas AG raised its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 63.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 45,071 shares of the financial services provider’s stock after purchasing an additional 17,563 shares during the period. LPL Financial accounts for about 2.0% of 2Xideas AG’s portfolio, making the stock its 14th largest position. 2Xideas AG owned 0.06% of LPL Financial worth $14,716,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new stake in LPL Financial during the fourth quarter valued at approximately $305,747,000. Raymond James Financial Inc. acquired a new stake in LPL Financial in the fourth quarter worth about $295,982,000. Boston Partners grew its stake in shares of LPL Financial by 26.0% during the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider’s stock worth $1,278,454,000 after acquiring an additional 805,637 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of LPL Financial during the fourth quarter valued at about $136,440,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of LPL Financial by 57.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider’s stock valued at $364,290,000 after purchasing an additional 405,341 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 other news, 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 sale, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction on 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 sale, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock valued at $12,562,070 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

LPL Financial Stock Down 9.4 %

Shares of NASDAQ LPLA opened at $283.31 on Friday. The firm has a market cap of $21.13 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The company’s 50-day simple moving average is $348.34 and its 200-day simple moving average is $315.70. 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 Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $384.04.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping 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%. Equities analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.42%. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Analysts Set New Price Targets

LPLA has been the subject of a number of recent research reports. Citigroup reduced their price target on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company raised their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. 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 report on Friday, January 31st. JMP Securities reiterated a “market outperform” rating and set a $435.00 price objective on shares of LPL Financial in a research note on Friday, January 31st. Finally, Morgan Stanley upped their target price on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $380.42.

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.