Independent Advisor Alliance lessened its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 26.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,463 shares of the financial services provider's stock after selling 1,239 shares during the quarter. Independent Advisor Alliance's holdings in LPL Financial were worth $1,131,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the company. FMR LLC lifted its position in shares of 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 lifted its position in LPL Financial by 2.6% in 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 buying an additional 36,474 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 worth $296,635,000 after buying an additional 276,166 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in LPL Financial in the 4th quarter worth approximately $295,982,000. Finally, Southpoint Capital Advisors LP lifted 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 worth $174,472,000 after buying an additional 250,000 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on LPLA shares. StockNews.com downgraded shares of LPL Financial from a "hold" rating to a "sell" rating in a research report on Monday. Morgan Stanley increased their target price on shares of LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. TD Cowen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating and increased their target price for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Citigroup increased their price target on shares of LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Finally, UBS Group increased their price target on shares of LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $379.17.
Get Our Latest Research Report on LPL Financial
Insiders Place Their Bets
In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the sale, the chief financial officer now directly owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm's stock in a transaction 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. This represents a 21.26 % 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 ninety days. Insiders own 1.30% of the company's stock.
LPL Financial Stock Performance
NASDAQ:LPLA traded up $5.91 during midday trading on Wednesday, reaching $332.21. The stock had a trading volume of 769,600 shares, compared to its average volume of 740,833. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04. The firm's fifty day simple moving average is $352.00 and its 200-day simple moving average is $305.72. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $24.81 billion, a P/E ratio of 23.66, a PEG ratio of 0.94 and a beta of 0.82.
LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.
LPL Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.36%. LPL Financial's dividend payout ratio is 8.55%.
LPL Financial Company Profile
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Free Report)
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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