Jacobs Levy Equity Management Inc. Has $545,000 Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Jacobs Levy Equity Management Inc. cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 98.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,344 shares of the financial services provider's stock after selling 158,120 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in LPL Financial were worth $545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of LPL Financial in the 2nd quarter worth $25,000. Key Financial Inc bought a new stake in LPL Financial during the second quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new position in LPL Financial in the third quarter worth approximately $31,000. Paladin Wealth LLC bought a new position in shares of LPL Financial in the third quarter valued at $34,000. Finally, Crewe Advisors LLC lifted its position in shares of LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 101 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group cut their target price on LPL Financial from $309.00 to $282.00 and set a "buy" rating on the stock in a research report on Friday, October 4th. The Goldman Sachs Group lifted their target price on shares of LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Morgan Stanley raised their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Citigroup increased their target price on LPL Financial from $285.00 to $310.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company upgraded LPL Financial from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $296.42.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company's stock.

LPL Financial Stock Performance

NASDAQ:LPLA traded up $3.57 during midday trading on Tuesday, reaching $324.07. The stock had a trading volume of 292,839 shares, compared to its average volume of 723,275. The stock has a market capitalization of $24.27 billion, a P/E ratio of 24.24, a PEG ratio of 1.60 and a beta of 0.86. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $332.91. The firm's fifty day simple moving average is $286.29 and its 200-day simple moving average is $257.36.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.47. The business had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.74 EPS. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 16.1 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.37%. The ex-dividend date was Thursday, November 14th. LPL Financial's payout ratio is currently 9.02%.

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.