AGF Management Ltd. Sells 12,454 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

AGF Management Ltd. cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 435,056 shares of the financial services provider's stock after selling 12,454 shares during the period. AGF Management Ltd. owned 0.58% of LPL Financial worth $142,050,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. FMR LLC lifted its position in LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider's stock valued at $772,930,000 after acquiring an additional 650,675 shares in the last quarter. Geode Capital Management LLC grew its position in shares of LPL Financial by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider's stock worth $333,581,000 after purchasing an additional 36,474 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in LPL Financial by 27.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock valued at $296,635,000 after purchasing an additional 276,166 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of LPL Financial during the fourth quarter valued at $295,982,000. Finally, Southpoint Capital Advisors LP increased its position in shares of LPL Financial by 50.0% during the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider's stock worth $174,472,000 after buying an additional 250,000 shares during the period. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Performance

NASDAQ LPLA opened at $311.07 on Tuesday. The business's 50-day moving average price is $353.69 and its 200 day moving average price is $301.03. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $384.04. The company has a market capitalization of $23.23 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

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LPL Financial (NASDAQ:LPLA - Get Free Report) last announced 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 return on equity of 49.41% and a net margin of 8.55%. On average, research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.39%. LPL Financial's payout ratio is 8.55%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LPLA shares. UBS Group raised their price target on shares of LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, January 31st. TD Cowen raised shares of LPL Financial from a "hold" rating to a "buy" rating and boosted their price objective for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. Keefe, Bruyette & Woods boosted their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. JMP Securities restated a "market outperform" rating and issued a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. Finally, Wells Fargo & Company upped their price target 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned 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 Transactions at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now owns 16,538 shares of the company's stock, valued at approximately $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,465 shares of company stock valued at $12,562,070. Corporate insiders own 1.30% of the company's stock.

LPL Financial Company 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.

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