LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. cut its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 72.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,404 shares of the financial services provider's stock after selling 91,353 shares during the quarter. Reinhart Partners LLC.'s holdings in LPL Financial were worth $11,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its position in shares of LPL Financial by 3.6% during the second quarter. Commonwealth Equity Services LLC now owns 5,670 shares of the financial services provider's stock worth $1,584,000 after purchasing an additional 197 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in LPL Financial by 7.7% in the second quarter. Acadian Asset Management LLC now owns 5,551 shares of the financial services provider's stock worth $1,548,000 after acquiring an additional 398 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of LPL Financial during the second quarter worth about $25,000. Wedbush Securities Inc. acquired a new position in shares of LPL Financial during the second quarter valued at about $216,000. Finally, Choreo LLC purchased a new position in shares of LPL Financial in the 2nd quarter valued at approximately $415,000. 95.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Aneri Jambusaria sold 305 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LPLA has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. JMP Securities reaffirmed a "market outperform" rating and set a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. UBS Group raised LPL Financial from a "neutral" rating to a "buy" rating and set a $390.00 price objective for the company in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on LPL Financial from $325.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. Finally, Citigroup boosted their price target on LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, LPL Financial presently has an average rating of "Moderate Buy" and an average price target of $351.50.

LPL Financial Price Performance

Shares of NASDAQ LPLA traded down $3.29 during trading on Monday, hitting $327.12. The company had a trading volume of 395,876 shares, compared to its average volume of 535,811. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $344.86. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a fifty day simple moving average of $323.22 and a two-hundred day simple moving average of $265.66. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87.

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

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.37%. 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.