Private Advisor Group LLC Reduces Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Private Advisor Group LLC decreased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,365 shares of the financial services provider’s stock after selling 733 shares during the quarter. Private Advisor Group LLC’s holdings in LPL Financial were worth $8,608,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LPLA. Ashton Thomas Securities LLC purchased a new stake in shares of LPL Financial in the third quarter valued at about $31,000. Brooklyn Investment Group purchased a new stake in shares of LPL Financial in the third quarter valued at about $43,000. Compass Financial Services Inc purchased a new stake in shares of LPL Financial in the fourth quarter valued at about $65,000. R Squared Ltd purchased a new stake in shares of LPL Financial in the fourth quarter valued at about $78,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of LPL Financial by 32.3% in the third quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 94 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LPLA. JPMorgan Chase & Co. upped their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company upped their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $277.00 to $413.00 in a report on Thursday, December 19th. Barclays upped their price objective on shares of LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group increased their target price on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One investment 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 data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.17.

Insider Transactions at LPL Financial

In other news, 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 transaction of $101,241.70. Following the sale, the director now owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Stock Down 2.0 %

Shares of LPLA opened at $371.93 on Friday. The stock has a market capitalization of $27.85 billion, a PE ratio of 26.49, a P/E/G ratio of 0.95 and a beta of 0.87. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04. 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’s 50-day simple moving average is $348.99 and its 200-day simple moving average is $289.66.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. LPL Financial’s dividend payout ratio is presently 8.55%.

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.