LPL Financial Holdings Inc. (NASDAQ:LPLA) CFO Matthew J. Audette Sells 4,588 Shares of Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. The trade was a 21.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

LPL Financial Trading Down 0.1 %

Shares of LPLA stock opened at $361.67 on Friday. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04. The company’s fifty day simple moving average is $351.24 and its two-hundred day simple moving average is $293.86. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $26.97 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 0.94 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors 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 is currently 8.55%.

Wall Street Analyst Weigh In

LPLA has been the topic of several research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a research report on Friday, January 31st. Barclays boosted their price target on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Citigroup lifted their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $379.17.

Institutional Trading of LPL Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of LPLA. Daiwa Securities Group Inc. grew its position in shares of 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 in the last quarter. Rockefeller Capital Management L.P. purchased a new position in LPL Financial during the third quarter worth about $2,633,000. Principal Financial Group Inc. increased its stake in LPL Financial by 15.7% in the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock worth $5,913,000 after acquiring an additional 3,444 shares during the last quarter. Truist Financial Corp raised its holdings in shares of LPL Financial by 7.9% in the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider’s stock valued at $62,740,000 after acquiring an additional 14,106 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of LPL Financial by 4.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock valued at $10,190,000 after acquiring an additional 1,383 shares during the last quarter. Institutional investors own 95.66% 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.