Moran Wealth Management LLC Sells 85 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Moran Wealth Management LLC trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,722 shares of the financial services provider’s stock after selling 85 shares during the period. Moran Wealth Management LLC’s holdings in LPL Financial were worth $889,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Daiwa Securities Group Inc. grew its stake in shares of LPL Financial by 50.6% in the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock worth $3,685,000 after acquiring an additional 5,320 shares during the period. Rockefeller Capital Management L.P. bought a new stake in LPL Financial in the 3rd quarter worth approximately $2,633,000. Truist Financial Corp grew its position in LPL Financial by 7.9% in the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider’s stock worth $62,740,000 after purchasing an additional 14,106 shares during the period. Principal Financial Group Inc. raised its stake in LPL Financial by 15.7% during the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock valued at $5,913,000 after buying an additional 3,444 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings 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 buying an additional 1,383 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Activity

In other news, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. The trade was 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 hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares in the company, valued at $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock worth $12,562,070 over the last quarter. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley lifted their price objective on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods upped 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. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Barclays upped their target price on shares of LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $379.17.

LPL Financial Trading Up 0.7 %

Shares of LPL Financial stock opened at $313.23 on Wednesday. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $384.04. 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 company has a market capitalization of $23.39 billion, a P/E ratio of 22.31, a P/E/G ratio of 0.94 and a beta of 0.82. The company has a fifty day moving average of $353.37 and a 200 day moving average of $301.68.

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

LPL Financial Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s payout ratio is currently 8.55%.

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.