LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,791 shares of the financial services provider’s stock after selling 878 shares during the period. NewEdge Wealth LLC owned approximately 0.09% of LPL Financial worth $22,461,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its stake in LPL Financial by 10.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 88 shares during the last quarter. International Assets Investment Management LLC boosted its position in LPL Financial by 11,516.9% in the third quarter. International Assets Investment Management LLC now owns 92,819 shares of the financial services provider’s stock valued at $21,592,000 after buying an additional 92,020 shares during the last quarter. Forsta AP Fonden increased its holdings in LPL Financial by 2.0% in the 3rd quarter. Forsta AP Fonden now owns 15,600 shares of the financial services provider’s stock worth $3,629,000 after buying an additional 300 shares during the period. PFG Investments LLC acquired a new position in LPL Financial in the 3rd quarter worth approximately $266,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in LPL Financial by 1.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,718 shares of the financial services provider’s stock valued at $2,004,000 after acquiring an additional 131 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LPLA. JMP Securities reissued a “market outperform” rating and set a $435.00 target price on shares of LPL Financial in a report on Friday, January 31st. UBS Group boosted their price objective on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Citigroup upped their price objective on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $379.17.

LPL Financial Stock Up 1.4 %

LPLA opened at $362.20 on Thursday. 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 Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $384.04. The company has a market cap of $27.01 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 0.94 and a beta of 0.87. The company has a 50-day moving average price of $351.24 and a 200 day moving average price of $293.86.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.33%. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 28,777 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the sale, the chief financial officer now owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Aneri Jambusaria sold 305 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, 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 disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

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.