Oliver Luxxe Assets LLC Acquires 421 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Oliver Luxxe Assets LLC boosted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,794 shares of the financial services provider’s stock after acquiring an additional 421 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in LPL Financial were worth $2,871,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LPLA. FMR LLC boosted its position in shares of LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after buying an additional 650,675 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after acquiring an additional 276,166 shares in the last quarter. Southpoint Capital Advisors LP lifted its position in shares of LPL Financial by 50.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after purchasing an additional 250,000 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of LPL Financial by 9.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after purchasing an additional 233,242 shares in the last quarter. Finally, Maverick Capital Ltd. increased its holdings in LPL Financial by 82.0% during the third quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after buying an additional 223,931 shares during the period. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Citigroup boosted their price target on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Keefe, Bruyette & Woods increased their price target on shares of LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. UBS Group raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price objective on the stock in a research report on Monday. Morgan Stanley increased their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $334.42.

LPL Financial Stock Performance

LPL Financial stock traded up $5.58 during trading hours on Monday, hitting $338.67. 385,144 shares of the stock traded hands, compared to its average volume of 463,919. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $344.86. The stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 1.60 and a beta of 0.86. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The firm’s 50 day moving average price is $316.97 and its 200-day moving average price is $263.88.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the company earned $3.74 EPS. LPL Financial’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities analysts expect that LPL Financial Holdings Inc. will post 16.1 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.35%. LPL Financial’s dividend payout ratio is presently 9.02%.

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.