Cinctive Capital Management LP Has $9.04 Million Stock Holdings in LPL Financial Holdings Inc. $LPLA

Cinctive Capital Management LP raised its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 195.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 27,180 shares of the financial services provider’s stock after acquiring an additional 17,967 shares during the quarter. Cinctive Capital Management LP’s holdings in LPL Financial were worth $9,043,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LPLA. Vanguard Group Inc. grew its stake in shares of LPL Financial by 4.0% in the third quarter. Vanguard Group Inc. now owns 8,303,768 shares of the financial services provider’s stock worth $2,762,581,000 after purchasing an additional 317,002 shares during the last quarter. Boston Partners raised its position in LPL Financial by 4.7% during the 2nd quarter. Boston Partners now owns 3,679,484 shares of the financial services provider’s stock worth $1,379,598,000 after purchasing an additional 165,201 shares during the last quarter. Dodge & Cox raised its position in LPL Financial by 23.2% during the 3rd quarter. Dodge & Cox now owns 3,329,255 shares of the financial services provider’s stock worth $1,107,610,000 after purchasing an additional 627,546 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in LPL Financial by 32.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,242,353 shares of the financial services provider’s stock worth $1,078,698,000 after buying an additional 800,171 shares during the period. Finally, Capital World Investors lifted its holdings in LPL Financial by 15,960.1% during the 3rd quarter. Capital World Investors now owns 2,628,551 shares of the financial services provider’s stock worth $874,493,000 after buying an additional 2,612,184 shares during the period. Institutional investors own 95.66% of the company’s stock.

Insider Activity

In other news, Director Marc Eliot Cohen sold 1,088 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $309.72, for a total transaction of $336,975.36. Following the completion of the sale, the director owned 4,400 shares in the company, valued at $1,362,768. The trade was a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew Enyedi sold 2,109 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $320.15, for a total value of $675,196.35. Following the transaction, the director directly owned 14,121 shares in the company, valued at $4,520,838.15. The trade was a 12.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,990 shares of company stock worth $2,201,837 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LPLA has been the subject of several recent research reports. Wolfe Research set a $478.00 price target on LPL Financial in a research note on Friday, January 30th. Morgan Stanley cut their price objective on LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a research note on Monday, December 22nd. Jefferies Financial Group upped their target price on LPL Financial from $426.00 to $440.00 and gave the company a “buy” rating in a report on Friday, January 30th. Citigroup reissued a “market outperform” rating on shares of LPL Financial in a research report on Tuesday, February 3rd. Finally, UBS Group set a $500.00 price target on shares of LPL Financial in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and a consensus price target of $428.71.

LPL Financial Trading Down 0.2%

NASDAQ:LPLA opened at $289.03 on Friday. LPL Financial Holdings Inc. has a 12 month low of $262.83 and a 12 month high of $403.58. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $23.15 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 0.64 and a beta of 0.59. The firm has a fifty day simple moving average of $345.43 and a two-hundred day simple moving average of $349.59.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $5.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.82 by $0.41. The company had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $4.90 billion. LPL Financial had a net margin of 5.08% and a return on equity of 34.19%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.25 EPS. Analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, March 10th. LPL Financial’s dividend payout ratio (DPR) is 10.90%.

LPL Financial Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.