Fmr LLC Decreases Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

FMR LLC decreased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,958,723 shares of the financial services provider's stock after selling 363,848 shares during the period. FMR LLC owned 3.95% of LPL Financial worth $966,053,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Graney & King LLC purchased a new position in LPL Financial in the 4th quarter worth about $30,000. Jones Financial Companies Lllp grew its position in LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after purchasing an additional 43 shares during the period. Atala Financial Inc purchased a new stake in LPL Financial during the 4th quarter valued at $59,000. Compass Financial Services Inc bought a new position in shares of LPL Financial during the 4th quarter valued at $65,000. Finally, R Squared Ltd purchased a new position in shares of LPL Financial in the 4th quarter worth $78,000. 95.66% of the stock is owned by institutional investors.

Insider Transactions at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the firm's 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 sale, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the sale, the chief financial officer now directly owns 16,538 shares of the company's stock, valued at $5,954,837.66. The trade was a 21.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

Several research analysts have recently weighed in on LPLA shares. Morgan Stanley lifted their price target on shares of LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Citigroup dropped their price target on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. UBS Group lifted their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, January 31st. StockNews.com downgraded LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. Finally, Keefe, Bruyette & Woods increased their target price on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $369.83.

LPL Financial Trading Up 3.3 %

NASDAQ LPLA traded up $9.89 during trading hours on Friday, hitting $311.42. 789,293 shares of the company were exchanged, compared to its average volume of 822,656. The stock has a market cap of $24.71 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04. The stock has a 50-day moving average price of $340.03 and a 200 day moving average price of $319.63. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating 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%. Analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.39%. LPL Financial's dividend payout ratio is currently 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.