Clarkston Capital Partners LLC reduced its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 872,283 shares of the financial services provider's stock after selling 104,747 shares during the quarter. LPL Financial accounts for 5.5% of Clarkston Capital Partners LLC's portfolio, making the stock its 4th largest position. Clarkston Capital Partners LLC owned about 1.16% of LPL Financial worth $284,809,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in LPLA. Boston Partners lifted its holdings in shares of LPL Financial by 26.0% in the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock valued at $1,278,454,000 after buying an additional 805,637 shares during the period. Geode Capital Management LLC raised its holdings in shares of LPL Financial by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider's stock worth $475,946,000 after purchasing an additional 23,111 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock valued at $296,635,000 after purchasing an additional 276,166 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in LPL Financial by 57.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider's stock worth $364,290,000 after buying an additional 405,341 shares during the last quarter. Finally, Norges Bank bought a new position in shares of LPL Financial in the fourth quarter valued at $305,747,000. Institutional investors own 95.66% of the company's stock.
Insider Activity at LPL Financial
In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the business'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 sale, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the company'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 transaction of $402,435.00. Following the sale, the director now owns 4,075 shares in the company, valued at $1,490,838.75. The trade was 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 quarter. Company insiders own 1.30% of the company's stock.
Wall Street Analyst Weigh In
LPLA has been the topic of a number of recent analyst reports. StockNews.com lowered LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. Morgan Stanley raised their price objective 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. 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. TD Cowen raised shares of LPL Financial from a "hold" rating to a "buy" rating and boosted their price objective for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. Finally, Citigroup cut their target price 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. 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $369.83.
Check Out Our Latest Report on LPLA
LPL Financial Stock Performance
Shares of LPLA stock traded up $5.28 on Friday, hitting $306.81. The company's stock had a trading volume of 361,473 shares, compared to its average volume of 819,619. The stock's 50 day moving average is $341.04 and its 200-day moving average is $318.44. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $384.04. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market capitalization of $24.34 billion, a PE ratio of 21.88, a PEG ratio of 0.94 and a beta of 0.64.
LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping 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%. Equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.
LPL Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.39%. The ex-dividend date was Tuesday, March 11th. LPL Financial's dividend payout ratio (DPR) is presently 8.55%.
LPL Financial 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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