Raymond James & Associates trimmed its holdings in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 526,374 shares of the financial services provider’s stock after selling 28,769 shares during the quarter. Raymond James & Associates owned about 0.58% of LPL Financial worth $30,077,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of LPLA. The Manufacturers Life Insurance Company raised its position in LPL Financial by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 211 shares during the last quarter. Amalgamated Bank lifted its position in LPL Financial by 5.8% in the 4th quarter. Amalgamated Bank now owns 17,666 shares of the financial services provider’s stock valued at $1,009,000 after acquiring an additional 973 shares in the last quarter. Sei Investments Co. lifted its position in LPL Financial by 2.9% in the 3rd quarter. Sei Investments Co. now owns 72,656 shares of the financial services provider’s stock valued at $3,747,000 after acquiring an additional 2,044 shares in the last quarter. American International Group Inc. bought a new position in LPL Financial in the 4th quarter valued at approximately $119,000. Finally, Cerebellum GP LLC bought a new position in LPL Financial in the 4th quarter valued at approximately $122,000. 93.61% of the stock is owned by hedge funds and other institutional investors.
In related news, insider John Andrew Kalbaugh sold 1,398 shares of the company’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $64.76, for a total transaction of $90,534.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marco Hellman sold 207,734 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $66.17, for a total transaction of $13,745,758.78. The disclosure for this sale can be found here. Insiders have sold 1,469,435 shares of company stock valued at $92,312,374 over the last 90 days. 4.00% of the stock is currently owned by insiders.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut LPL Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 7th. Nomura raised their target price on LPL Financial from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Morgan Stanley increased their price target on LPL Financial from $62.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Credit Suisse Group raised their price objective on LPL Financial from $77.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Finally, SunTrust Banks restated a “buy” rating and set a $75.00 price objective on shares of LPL Financial in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. LPL Financial currently has an average rating of “Buy” and a consensus target price of $70.50.
NASDAQ LPLA traded down $3.41 on Friday, hitting $58.65. The stock had a trading volume of 1,409,703 shares, compared to its average volume of 736,878. The firm has a market capitalization of $5,596.62, a P/E ratio of 19.55, a P/E/G ratio of 1.07 and a beta of 1.62. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.47. LPL Financial Holdings Inc has a 52-week low of $37.38 and a 52-week high of $66.64.
LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.52. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. LPL Financial had a net margin of 5.58% and a return on equity of 29.42%. sell-side analysts predict that LPL Financial Holdings Inc will post 3.87 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, March 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.71%. LPL Financial’s dividend payout ratio is presently 33.33%.
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About LPL Financial
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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