LPL Financial Holdings Inc. (NASDAQ:LPLA) Position Reduced by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership reduced its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 49.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,202 shares of the financial services provider's stock after selling 12,887 shares during the period. Arrowstreet Capital Limited Partnership's holdings in LPL Financial were worth $4,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Okabena Investment Services Inc. acquired a new position in LPL Financial in the fourth quarter valued at $513,000. Intrust Bank NA acquired a new stake in shares of LPL Financial in the 4th quarter valued at about $263,000. Allstate Corp acquired a new position in shares of LPL Financial in the 4th quarter valued at $720,000. Brown Brothers Harriman & Co. increased its stake in LPL Financial by 13.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 171,766 shares of the financial services provider's stock valued at $56,083,000 after purchasing an additional 19,787 shares during the period. Finally, DnB Asset Management AS lifted its position in LPL Financial by 2.5% during the 4th quarter. DnB Asset Management AS now owns 12,944 shares of the financial services provider's stock worth $4,226,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the company'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 transaction of $1,652,001.16. Following the sale, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares of the company's stock, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock worth $12,562,070 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Barclays dropped their target price on LPL Financial from $414.00 to $365.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. JMP Securities lowered their target price on LPL Financial from $435.00 to $420.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. UBS Group raised their target price on shares of LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Finally, Citigroup cut their price target on LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $369.83.

LPL Financial Trading Up 1.7 %

Shares of LPLA stock traded up $5.43 during mid-day trading on Monday, reaching $316.85. The company's stock had a trading volume of 24,901 shares, compared to its average volume of 941,406. The company's 50 day simple moving average is $340.03 and its 200-day simple moving average is $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 Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04. The firm has a market capitalization of $25.14 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.

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

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Tuesday, March 11th. LPL Financial's dividend payout ratio (DPR) is 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.