Reinhart Partners LLC. Sells 91,353 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Reinhart Partners LLC. reduced its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 72.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,404 shares of the financial services provider’s stock after selling 91,353 shares during the quarter. Reinhart Partners LLC.’s holdings in LPL Financial were worth $11,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC bought a new stake in LPL Financial in the 2nd quarter valued at $25,000. Ashton Thomas Securities LLC bought a new stake in LPL Financial in the 3rd quarter valued at $31,000. Paladin Wealth LLC bought a new stake in LPL Financial in the 3rd quarter valued at $34,000. Brooklyn Investment Group bought a new stake in LPL Financial in the 3rd quarter valued at $43,000. Finally, Quarry LP boosted its stake in LPL Financial by 45.3% in the 2nd quarter. Quarry LP now owns 327 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 102 shares during the period. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Down 0.1 %

Shares of LPL Financial stock traded down $0.20 on Monday, hitting $330.21. The company had a trading volume of 177,712 shares, compared to its average volume of 503,102. The stock has a market capitalization of $24.73 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 1.60 and a beta of 0.87. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $344.86. The stock has a 50 day moving average of $323.22 and a 200-day moving average of $265.66. 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 (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.74 earnings per share. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Dividend Announcement

The business 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 0.36%. The ex-dividend date was Thursday, November 14th. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

Analyst Ratings Changes

Several analysts recently issued reports on LPLA shares. TD Cowen upgraded 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 note on Thursday, December 19th. Wells Fargo & Company upped their target price on LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Barclays upped their target price on LPL Financial from $378.00 to $379.00 and gave the company an “overweight” rating in a research report on Monday. Citigroup upped their target price on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Friday. Finally, JMP Securities reiterated a “market outperform” rating and set a $310.00 target price 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 given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, LPL Financial has a consensus 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 the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

LPL Financial 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.