Vinva Investment Management Ltd Trims Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Vinva Investment Management Ltd decreased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 72.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 865 shares of the financial services provider's stock after selling 2,313 shares during the quarter. Vinva Investment Management Ltd's holdings in LPL Financial were worth $283,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners grew its holdings in LPL Financial by 26.0% during the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock worth $1,278,454,000 after acquiring an additional 805,637 shares in the last quarter. FMR LLC grew its stake in shares of LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider's stock worth $772,930,000 after purchasing an additional 650,675 shares in the last quarter. Geode Capital Management LLC increased its holdings in LPL Financial by 2.6% in the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider's stock valued at $333,581,000 after buying an additional 36,474 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in LPL Financial by 27.6% in 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 buying an additional 276,166 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in LPL Financial in the fourth quarter valued at $295,982,000. Institutional investors and hedge funds own 95.66% of the company's stock.

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Insider Transactions at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew J. Audette sold 4,588 shares of the business'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 sale, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,465 shares of company stock valued at $12,562,070. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on LPLA. Barclays increased their price target on shares of LPL Financial from $389.00 to $414.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Wells Fargo & Company boosted their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Citigroup boosted their target price on LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a report on Friday, January 10th. Finally, TD Cowen upgraded LPL Financial from a "hold" rating to a "buy" rating and raised their price target for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $379.17.

LPL Financial Stock Performance

Shares of LPL Financial stock traded down $3.39 during trading hours on Wednesday, hitting $339.15. 356,167 shares of the company were exchanged, compared to its average volume of 741,099. The business has a 50-day moving average of $352.40 and a 200-day moving average of $309.86. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $25.33 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 0.94 and a beta of 0.82.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released 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 net margin of 8.55% and a return on equity of 49.41%. As a group, analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial's payout ratio 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.