LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,209 shares of the financial services provider’s stock after acquiring an additional 1,383 shares during the quarter. Assenagon Asset Management S.A.’s holdings in LPL Financial were worth $10,190,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LPLA. Oak Thistle LLC lifted its holdings in LPL Financial by 122.0% in the 4th quarter. Oak Thistle LLC now owns 1,991 shares of the financial services provider’s stock valued at $650,000 after purchasing an additional 1,094 shares in the last quarter. Quantum Financial Advisors LLC purchased a new stake in shares of LPL Financial during the fourth quarter worth $208,000. Horizon Wealth Management LLC acquired a new stake in shares of LPL Financial in the fourth quarter valued at about $203,000. Wedmont Private Capital lifted its stake in shares of LPL Financial by 3.6% in the fourth quarter. Wedmont Private Capital now owns 1,578 shares of the financial services provider’s stock worth $521,000 after buying an additional 55 shares in the last quarter. Finally, Winthrop Advisory Group LLC boosted its position in LPL Financial by 0.7% during the fourth quarter. Winthrop Advisory Group LLC now owns 20,954 shares of the financial services provider’s stock worth $6,842,000 after acquiring an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on LPLA shares. Jefferies Financial Group decreased their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. The Goldman Sachs Group boosted their price objective on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised LPL Financial from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $288.00 to $397.00 in a research note on Tuesday, January 7th. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. Finally, JMP Securities restated a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. One 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $351.50.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of LPL Financial 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 completion of the transaction, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

LPL Financial Stock Up 0.8 %

LPL Financial stock opened at $348.93 on Friday. The company has a market capitalization of $26.13 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.03 and a beta of 0.87. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $350.38. The firm has a 50 day moving average price of $327.62 and a 200 day moving average price of $267.83.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the firm posted $3.74 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Research analysts expect that LPL Financial Holdings Inc. will post 16.07 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Thursday, November 14th. LPL Financial’s payout ratio is 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.