LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,147 shares of the financial services provider’s stock after selling 2,641 shares during the quarter. Intech Investment Management LLC’s holdings in LPL Financial were worth $6,862,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mawer Investment Management Ltd. bought a new stake in LPL Financial in the fourth quarter worth about $3,375,000. Hudson Bay Capital Management LP raised its holdings in LPL Financial by 42.9% during the 3rd quarter. Hudson Bay Capital Management LP now owns 50,000 shares of the financial services provider’s stock worth $11,882,000 after buying an additional 15,000 shares during the period. Asset Management One Co. Ltd. raised its holdings in LPL Financial by 15.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 34,863 shares of the financial services provider’s stock worth $7,965,000 after buying an additional 4,686 shares during the period. NewEdge Wealth LLC raised its holdings in LPL Financial by 228.6% during the 4th quarter. NewEdge Wealth LLC now owns 55,827 shares of the financial services provider’s stock worth $12,707,000 after buying an additional 38,839 shares during the period. Finally, Boston Partners raised its holdings in LPL Financial by 21.5% during the 4th quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock worth $233,744,000 after buying an additional 181,594 shares during the period. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Performance

LPL Financial stock traded up $9.91 during trading hours on Friday, reaching $284.40. 656,920 shares of the company were exchanged, compared to its average volume of 523,752. The firm has a market cap of $21.25 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.13 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. The stock has a 50-day moving average of $266.05 and a 200 day moving average of $248.08. LPL Financial Holdings Inc. has a 12 month low of $190.13 and a 12 month high of $284.61.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.44. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. As a group, research analysts anticipate that LPL Financial Holdings Inc. will post 15.85 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.30 per share. The ex-dividend date is Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a yield of 0.42%. LPL Financial’s payout ratio is currently 9.06%.

Insiders Place Their Bets

In other news, Director Kabir Sethi sold 1,300 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.50, for a total transaction of $346,450.00. Following the completion of the transaction, the director now directly owns 10,245 shares in the company, valued at $2,730,292.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total value of $9,277,457.78. Following the completion of the transaction, the chief executive officer now directly owns 141,810 shares in the company, valued at $37,798,037.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kabir Sethi sold 1,300 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the completion of the transaction, the director now owns 10,245 shares of the company’s stock, valued at $2,730,292.50. The disclosure for this sale can be found here. Insiders sold 41,681 shares of company stock valued at $11,109,490 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group boosted their price objective on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. JMP Securities reiterated a “market outperform” rating and issued a $305.00 target price on shares of LPL Financial in a report on Wednesday, May 1st. Barclays upped their target price on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a report on Monday, April 8th. TD Cowen upped their target price on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Finally, Raymond James started coverage on LPL Financial in a report on Thursday, April 4th. They issued an “underperform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $276.20.

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.