QRG Capital Management Inc. Buys 134 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

QRG Capital Management Inc. raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,812 shares of the financial services provider’s stock after acquiring an additional 134 shares during the quarter. QRG Capital Management Inc.’s holdings in LPL Financial were worth $592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LPLA. Ashton Thomas Securities LLC purchased a new position in shares of LPL Financial in the 3rd quarter valued at approximately $31,000. Brooklyn Investment Group purchased a new position in LPL Financial during the third quarter valued at $43,000. Compass Financial Services Inc bought a new stake in shares of LPL Financial during the 4th quarter valued at $65,000. R Squared Ltd purchased a new stake in shares of LPL Financial in the 4th quarter worth about $78,000. Finally, First Horizon Advisors Inc. increased its stake in shares of LPL Financial by 32.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Activity

In related news, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was 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 approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aneri Jambusaria sold 305 shares of the stock in a transaction dated Thursday, December 5th. The shares were 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 directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,770 shares of company stock valued at $12,663,312 in the last ninety days. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LPLA has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Citigroup boosted 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. Barclays raised their price objective on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company lifted their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Price Performance

NASDAQ LPLA opened at $336.46 on Wednesday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. The stock has a 50-day moving average of $353.39 and a 200 day moving average of $297.74. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market capitalization of $25.09 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 0.94 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. On average, sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS 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 paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.36%. LPL Financial’s dividend payout ratio 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.