Cibc World Markets Corp Sells 970 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Cibc World Markets Corp lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 22.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,383 shares of the financial services provider's stock after selling 970 shares during the quarter. Cibc World Markets Corp's holdings in LPL Financial were worth $1,105,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in LPL Financial in the 4th quarter worth $295,982,000. FMR LLC lifted its holdings 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 purchasing an additional 650,675 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of LPL Financial by 27.6% during 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 during the period. Egerton Capital UK LLP bought a new position in shares of LPL Financial during the fourth quarter worth about $84,145,000. Finally, Southpoint Capital Advisors LP raised its position in LPL Financial by 50.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider's stock valued at $174,472,000 after buying an additional 250,000 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

LPLA stock traded down $3.39 during midday trading on Wednesday, reaching $339.15. 356,148 shares of the company were exchanged, compared to its average volume of 741,099. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. The firm has a market capitalization of $25.33 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The business has a 50-day moving average price of $352.40 and a two-hundred day moving average price of $309.86. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

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LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 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%. Equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial's payout ratio is 8.55%.

Insider Transactions at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the 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 sale, the director now owns 4,075 shares of the company's stock, valued at $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now directly owns 16,538 shares of the company's stock, valued at $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,465 shares of company stock worth $12,562,070. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on LPLA shares. UBS Group upped their price target on LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Wells Fargo & Company raised their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Citigroup lifted their price target on shares of LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Finally, JMP Securities restated a "market outperform" rating and set a $435.00 price objective on shares of LPL Financial in a research note on Friday, January 31st. Two research analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $379.17.

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.