LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 52.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,370 shares of the financial services provider's stock after selling 25,132 shares during the quarter. Teacher Retirement System of Texas' holdings in LPL Financial were worth $7,304,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Wealth Alliance lifted its stake in shares of LPL Financial by 2.1% in the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock valued at $484,000 after purchasing an additional 30 shares during the period. Sanchez Wealth Management Group lifted its position in shares of LPL Financial by 2.1% during the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider's stock valued at $551,000 after acquiring an additional 35 shares during the period. Mather Group LLC. boosted its stake in shares of LPL Financial by 4.1% during the 4th quarter. Mather Group LLC. now owns 916 shares of the financial services provider's stock worth $299,000 after acquiring an additional 36 shares in the last quarter. Signaturefd LLC grew its holdings in shares of LPL Financial by 3.1% in the 4th quarter. Signaturefd LLC now owns 1,352 shares of the financial services provider's stock worth $441,000 after acquiring an additional 41 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in shares of LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after acquiring an additional 43 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares in the company, valued at $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 through this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were 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. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock worth $12,562,070 in the last ninety days. Insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LPLA. JMP Securities reiterated a "market outperform" rating and set a $435.00 target price on shares of LPL Financial in a research report on Friday, January 31st. Citigroup lifted their price target on LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Morgan Stanley increased their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Barclays upped their price target on shares of LPL Financial from $389.00 to $414.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $379.17.

LPL Financial Trading Down 1.0 %

NASDAQ:LPLA traded down $3.39 during mid-day trading on Wednesday, reaching $339.15. The company's stock had a trading volume of 356,184 shares, compared to its average volume of 742,322. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $25.33 billion, a P/E ratio of 24.16, a P/E/G ratio of 0.94 and a beta of 0.82. The company's fifty day simple moving average is $352.42 and its two-hundred day simple moving average is $310.06. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $384.04.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share 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%. On average, equities analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

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