Sterling Group Wealth Management LLC Sells 64 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Sterling Group Wealth Management LLC lessened its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,565 shares of the financial services provider’s stock after selling 64 shares during the period. LPL Financial makes up about 1.1% of Sterling Group Wealth Management LLC’s investment portfolio, making the stock its 14th largest position. Sterling Group Wealth Management LLC’s holdings in LPL Financial were worth $2,144,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in LPLA. Daiwa Securities Group Inc. grew its holdings in LPL Financial by 50.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock valued at $3,685,000 after purchasing an additional 5,320 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in LPL Financial in the 3rd quarter valued at $2,633,000. Principal Financial Group Inc. lifted its position in shares of LPL Financial by 15.7% during the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock worth $5,913,000 after purchasing an additional 3,444 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of LPL Financial by 4.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock worth $10,190,000 after purchasing an additional 1,383 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after purchasing an additional 276,166 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Performance

Shares of LPLA opened at $358.78 on Friday. The stock has a 50-day moving average of $329.74 and a two-hundred day moving average of $269.38. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market cap of $26.87 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.09 and a beta of 0.87. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $361.63.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the firm earned $3.74 earnings per share. LPL Financial’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts predict that LPL Financial Holdings Inc. will post 16.17 EPS for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.33%. LPL Financial’s payout ratio is currently 9.02%.

Analyst Upgrades and Downgrades

LPLA has been the subject of several research analyst reports. Citigroup lifted their price target on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. UBS Group upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price objective on the stock in a research note on Monday, January 6th. The Goldman Sachs Group boosted their price target on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised LPL Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $288.00 to $397.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley increased their price target on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $351.50.

Insider Activity

In other LPL Financial news, 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 completion of the transaction, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.