Franklin Resources Inc. Sells 107,600 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Franklin Resources Inc. cut its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 41.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 152,319 shares of the financial services provider's stock after selling 107,600 shares during the quarter. Franklin Resources Inc. owned 0.20% of LPL Financial worth $49,734,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of LPLA. Graney & King LLC bought a new stake in shares of LPL Financial in the 4th quarter worth approximately $30,000. Jones Financial Companies Lllp lifted its position in shares of LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 43 shares during the last quarter. Atala Financial Inc acquired a new stake in shares of LPL Financial during the 4th quarter valued at $59,000. Compass Financial Services Inc bought a new stake in shares of LPL Financial during the 4th quarter worth $65,000. Finally, R Squared Ltd acquired a new position in shares of LPL Financial in the 4th quarter worth $78,000. Institutional investors own 95.66% of the company's stock.

Insider Activity

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction that occurred 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 owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction that occurred on 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 owns 4,075 shares in the company, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is owned by insiders.

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LPL Financial Stock Down 6.2 %

LPLA stock traded down $19.75 during trading hours on Thursday, hitting $299.13. The company's stock had a trading volume of 282,996 shares, compared to its average volume of 817,079. The stock has a 50 day moving average price of $342.30 and a two-hundred day moving average price of $317.89. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The company has a market capitalization of $22.31 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. 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 announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently declared 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 0.40%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial's dividend payout ratio is currently 8.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LPLA shares. Wells Fargo & Company reduced their price target on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research report on Tuesday. JMP Securities reduced their target price on LPL Financial from $435.00 to $420.00 and set a "market outperform" rating for the company in a report on Tuesday. Morgan Stanley lifted their price target on LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Barclays reduced their price objective on LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a research note on Monday. Finally, UBS Group lifted their target price on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $369.83.

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.