Oppenheimer Asset Management Inc. Lowers Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Oppenheimer Asset Management Inc. reduced its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,147 shares of the financial services provider’s stock after selling 1,092 shares during the period. Oppenheimer Asset Management Inc.’s holdings in LPL Financial were worth $4,619,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mn Services Vermogensbeheer B.V. boosted its position in shares of LPL Financial by 2.4% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 29,800 shares of the financial services provider’s stock worth $9,730,000 after buying an additional 700 shares during the period. Whipplewood Advisors LLC purchased a new position in shares of LPL Financial during the fourth quarter worth $167,000. Magnolia Private Wealth LLC purchased a new position in shares of LPL Financial during the fourth quarter worth $506,000. Impact Investors Inc purchased a new position in shares of LPL Financial during the fourth quarter worth $393,000. Finally, National Pension Service boosted its position in shares of LPL Financial by 1.7% during the fourth quarter. National Pension Service now owns 119,724 shares of the financial services provider’s stock worth $39,091,000 after buying an additional 2,000 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LPLA has been the subject of several research analyst reports. Citigroup raised their price target on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. UBS Group lifted their target price on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, January 31st. The Goldman Sachs Group lifted their target price on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company lifted their target price on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $379.17.

Insider Transactions at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction dated 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 sale, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,770 shares of company stock worth $12,663,312. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Stock Up 2.8 %

LPL Financial stock opened at $371.74 on Friday. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04. 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 cap of $27.72 billion, a PE ratio of 26.48, a P/E/G ratio of 0.94 and a beta of 0.87. The stock’s fifty day moving average is $351.92 and its two-hundred day moving average is $294.33.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating 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%. On average, sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is currently 8.55%.

LPL Financial Profile

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.