LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Vestcor Inc

Vestcor Inc lowered its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 61.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,576 shares of the financial services provider's stock after selling 2,485 shares during the period. Vestcor Inc's holdings in LPL Financial were worth $367,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in LPL Financial by 345.8% during the second quarter. SG Americas Securities LLC now owns 4,846 shares of the financial services provider's stock valued at $1,353,000 after buying an additional 3,759 shares during the period. Sequoia Financial Advisors LLC grew its position in LPL Financial by 9.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 857 shares of the financial services provider's stock worth $239,000 after acquiring an additional 71 shares during the last quarter. Assenagon Asset Management S.A. grew its position in LPL Financial by 882.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 85,914 shares of the financial services provider's stock worth $23,996,000 after acquiring an additional 77,169 shares during the last quarter. Portside Wealth Group LLC purchased a new position in LPL Financial in the 2nd quarter worth approximately $230,000. Finally, Blue Trust Inc. lifted its position in LPL Financial by 281.9% in the second quarter. Blue Trust Inc. now owns 485 shares of the financial services provider's stock valued at $128,000 after purchasing an additional 358 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

NASDAQ LPLA traded up $0.13 during trading hours on Friday, hitting $330.23. 299,395 shares of the stock were exchanged, compared to its average volume of 719,808. The stock has a 50-day moving average of $293.80 and a 200 day moving average of $258.80. The company has a market cap of $24.73 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 1.61 and a beta of 0.86. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $334.38. 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 announced its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the business earned $3.74 earnings per share. LPL Financial's revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.36%. The ex-dividend date was Thursday, November 14th. LPL Financial's dividend payout ratio (DPR) is 9.02%.

Insider Activity

In related news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction 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 directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

LPLA has been the topic of a number of recent research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. StockNews.com raised LPL Financial from a "sell" rating to a "hold" rating in a report on Saturday, November 9th. Barclays lifted their target price on LPL Financial from $311.00 to $378.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Jefferies Financial Group lowered their target price on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Finally, Citigroup upped their price target on LPL Financial from $285.00 to $310.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $305.17.

LPL Financial Company 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.