LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 173,024 shares of the financial services provider's stock after selling 2,175 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of LPL Financial worth $56,494,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of LPL Financial during the third quarter worth about $31,000. Paladin Wealth LLC purchased a new stake in shares of LPL Financial during the third quarter worth about $34,000. Brooklyn Investment Group purchased a new stake in shares of LPL Financial during the third quarter worth about $43,000. R Squared Ltd purchased a new stake in shares of LPL Financial during the fourth quarter worth about $78,000. Finally, First Horizon Advisors Inc. increased its position in shares of LPL Financial by 32.3% during the third quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider's stock worth $90,000 after acquiring an additional 94 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LPLA. StockNews.com raised LPL Financial from a "sell" rating to a "hold" rating in a research report on Saturday, November 9th. UBS Group boosted their price objective on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Barclays boosted their price objective on LPL Financial from $389.00 to $414.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective on LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $379.17.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA traded up $1.64 during trading on Friday, hitting $373.98. 581,964 shares of the company traded hands, compared to its average volume of 621,715. The stock has a market capitalization of $28.00 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 0.93 and a beta of 0.87. The business's fifty day moving average is $343.93 and its 200-day moving average is $283.83. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $376.11. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating 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%. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 19.14 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. LPL Financial's dividend payout ratio is presently 8.55%.

Insider Transactions at LPL Financial

In other news, CFO Matthew J. Audette sold 28,777 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $101,241.70. Following the transaction, the director now owns 3,920 shares of the company's stock, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

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.