LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management reduced its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 834 shares of the financial services provider’s stock after selling 48 shares during the quarter. Financial Advocates Investment Management’s holdings in LPL Financial were worth $272,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. FMR LLC grew its position in LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after buying an additional 650,675 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after purchasing an additional 276,166 shares during the period. Southpoint Capital Advisors LP increased its holdings in shares of LPL Financial by 50.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock valued at $174,472,000 after purchasing an additional 250,000 shares in the last quarter. Maverick Capital Ltd. lifted its stake in shares of LPL Financial by 82.0% in the third quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after purchasing an additional 223,931 shares during the period. Finally, Azora Capital LP boosted its holdings in LPL Financial by 52.2% during the third quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock worth $149,708,000 after buying an additional 220,622 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Citigroup raised their price target on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Wells Fargo & Company boosted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, JMP Securities restated a “market outperform” rating and set a $435.00 target price on shares of LPL Financial in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Trading Down 0.5 %

Shares of LPLA opened at $369.14 on Monday. The company has a market capitalization of $27.64 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 0.93 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 Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $375.84. The stock has a fifty day moving average of $339.73 and a two-hundred day moving average of $279.61.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts forecast that LPL Financial Holdings Inc. will post 19.14 EPS for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio is currently 8.55%.

Insider Transactions at LPL Financial

In related news, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Aneri Jambusaria sold 305 shares of the company’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 completion of 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 position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

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.