Trillium Asset Management LLC cut its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,376 shares of the financial services provider's stock after selling 1,934 shares during the period. Trillium Asset Management LLC owned approximately 0.09% of LPL Financial worth $22,326,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in LPLA. Principal Financial Group Inc. increased its holdings in LPL Financial by 15.7% in the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock valued at $5,913,000 after buying an additional 3,444 shares in the last quarter. Metis Global Partners LLC raised its position in shares of LPL Financial by 5.1% during the 3rd quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider's stock worth $220,000 after purchasing an additional 46 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in LPL Financial by 27.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,081 shares of the financial services provider's stock valued at $1,182,000 after buying an additional 1,107 shares in the last quarter. Empowered Funds LLC grew its holdings in LPL Financial by 49.1% during the 3rd quarter. Empowered Funds LLC now owns 14,285 shares of the financial services provider's stock valued at $3,323,000 after buying an additional 4,702 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its position in LPL Financial by 23.0% during the third quarter. Mutual of America Capital Management LLC now owns 4,388 shares of the financial services provider's stock worth $1,021,000 after buying an additional 821 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.
LPL Financial Trading Down 2.0 %
NASDAQ LPLA traded down $6.55 during trading hours on Friday, hitting $327.90. 828,191 shares of the company's stock were exchanged, compared to its average volume of 743,986. The business's 50 day moving average is $351.95 and its 200-day moving average is $307.43. 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 $24.49 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.
LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data 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 return on equity of 49.41% and a net margin of 8.55%. As a group, analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.
LPL Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. LPL Financial's dividend payout ratio (DPR) is 8.55%.
Insider Transactions at LPL Financial
In other news, Director Marc Eliot Cohen sold 1,100 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock worth $12,562,070 in the last three months. 1.30% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on 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 upped their price objective on LPL Financial from $390.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Citigroup upped their price objective on LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Morgan Stanley upped their price objective on LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Finally, TD Cowen upgraded LPL Financial from a "hold" rating to a "buy" rating and upped their price objective for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, LPL Financial has a consensus rating of "Moderate Buy" and a consensus target price of $379.17.
Check Out Our Latest Analysis on LPL Financial
About LPL Financial
(
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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