AlphaQuest LLC Sells 3,720 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

AlphaQuest LLC lessened its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 84.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 667 shares of the financial services provider's stock after selling 3,720 shares during the period. AlphaQuest LLC's holdings in LPL Financial were worth $218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its stake 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 worth $772,930,000 after buying an additional 650,675 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of LPL Financial by 2.6% in the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider's stock worth $333,581,000 after buying an additional 36,474 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after buying an additional 276,166 shares in the last quarter. Raymond James Financial Inc. bought a new position in LPL Financial during the fourth quarter valued at approximately $295,982,000. Finally, Southpoint Capital Advisors LP boosted its holdings in LPL Financial by 50.0% in the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider's stock worth $174,472,000 after purchasing an additional 250,000 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

Remove Ads

LPL Financial Price Performance

Shares of LPLA stock traded up $2.24 on Thursday, hitting $334.45. 571,768 shares of the stock traded hands, compared to its average volume of 741,361. The firm has a market cap of $24.98 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 0.94 and a beta of 0.82. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04. The firm has a 50 day simple moving average of $351.98 and a two-hundred day simple moving average of $305.90. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data 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%. As a group, equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed 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 is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. LPL Financial's payout ratio is 8.55%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods raised 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. Citigroup raised their target price on shares of LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, January 10th. Wells Fargo & Company raised their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, StockNews.com cut shares of LPL Financial from a "hold" rating to a "sell" rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $379.17.

Insider Activity

In other news, Director Marc Eliot Cohen sold 1,100 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction 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 owns 13,663 shares in the company, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,465 shares of company stock worth $12,562,070 in the last three months. Company insiders own 1.30% of the company's stock.

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.