Rhumbline Advisers Trims Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Rhumbline Advisers cut its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 101,446 shares of the financial services provider's stock after selling 4,367 shares during the period. Rhumbline Advisers owned 0.14% of LPL Financial worth $33,123,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Daiwa Securities Group Inc. lifted its stake in shares of LPL Financial by 50.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider's stock valued at $3,685,000 after purchasing an additional 5,320 shares during the period. Rockefeller Capital Management L.P. bought a new position in LPL Financial in the third quarter worth $2,633,000. Principal Financial Group Inc. lifted its position in LPL Financial by 15.7% during 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 during the period. Assenagon Asset Management S.A. boosted its holdings in shares of LPL Financial by 4.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider's stock valued at $10,190,000 after buying an additional 1,383 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of LPL Financial by 27.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after buying an additional 276,166 shares during the period. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA traded down $7.53 during midday trading on Friday, reaching $371.93. 1,175,849 shares of the company's stock traded hands, compared to its average volume of 664,201. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. The stock has a 50 day moving average of $348.16 and a 200 day moving average of $288.42. The company has a market cap of $27.85 billion, a price-to-earnings ratio of 26.49, a P/E/G ratio of 0.95 and a beta of 0.87. 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 posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating 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, equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.32%. The ex-dividend date is Tuesday, March 11th. LPL Financial's dividend payout ratio is currently 8.55%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LPLA shares. JMP Securities reissued a "market outperform" rating and set a $435.00 price target on shares of LPL Financial in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. The Goldman Sachs Group upped their price target on LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. UBS Group lifted their price objective on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Finally, TD Cowen raised LPL Financial from a "hold" rating to a "buy" rating and boosted their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $379.17.

Insiders Place Their Bets

In other news, CFO Matthew J. Audette sold 28,777 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Aneri Jambusaria sold 305 shares of the company's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now owns 3,920 shares of the company's stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

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.