Heron Bay Capital Management Has $27.95 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Heron Bay Capital Management trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,594 shares of the financial services provider’s stock after selling 10,537 shares during the period. LPL Financial accounts for approximately 5.8% of Heron Bay Capital Management’s investment portfolio, making the stock its biggest position. Heron Bay Capital Management owned approximately 0.11% of LPL Financial worth $27,947,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in LPL Financial during the fourth quarter worth about $295,982,000. Boston Partners lifted its position in shares of LPL Financial by 26.0% in the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider’s stock valued at $1,278,454,000 after buying an additional 805,637 shares during the last quarter. FMR LLC lifted its position in shares of LPL Financial by 24.4% in the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after buying an additional 650,675 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after acquiring an additional 276,166 shares during the period. Finally, Egerton Capital UK LLP acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $84,145,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. Keefe, Bruyette & Woods lifted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Morgan Stanley increased their price target on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Wells Fargo & Company boosted their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

Insider Buying and Selling at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of LPL Financial 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 sale, the chief financial officer now directly owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is currently owned by corporate insiders.

LPL Financial Stock Down 2.0 %

Shares of NASDAQ LPLA opened at $327.90 on Friday. The stock has a market capitalization of $24.49 billion, a P/E ratio of 23.35, a PEG ratio of 0.94 and a beta of 0.82. The stock’s fifty day moving average is $351.95 and its 200 day moving average is $307.43. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week 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.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating 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%. Sell-side 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 announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s payout ratio is presently 8.55%.

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.