Axxcess Wealth Management LLC Sells 1,288 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Axxcess Wealth Management LLC cut its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 46.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,456 shares of the financial services provider’s stock after selling 1,288 shares during the period. Axxcess Wealth Management LLC’s holdings in LPL Financial were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. acquired a new position in LPL Financial during the fourth quarter valued at approximately $80,000. Heritage Wealth Management LLC acquired a new position in shares of LPL Financial in the fourth quarter valued at approximately $460,000. Van ECK Associates Corp boosted its holdings in shares of LPL Financial by 16.7% in the fourth quarter. Van ECK Associates Corp now owns 20,620 shares of the financial services provider’s stock valued at $4,694,000 after buying an additional 2,946 shares during the period. Headlands Technologies LLC boosted its holdings in shares of LPL Financial by 192.8% in the fourth quarter. Headlands Technologies LLC now owns 4,670 shares of the financial services provider’s stock valued at $1,063,000 after buying an additional 3,075 shares during the period. Finally, Markel Group Inc. boosted its holdings in shares of LPL Financial by 41.5% in the fourth quarter. Markel Group Inc. now owns 426,386 shares of the financial services provider’s stock valued at $97,054,000 after buying an additional 125,122 shares during the period. 95.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LPLA has been the subject of several research analyst reports. Raymond James initiated coverage on shares of LPL Financial in a report on Thursday, April 4th. They issued an “underperform” rating for the company. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Barclays boosted their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, UBS Group boosted their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $276.20.

LPL Financial Price Performance

Shares of LPLA opened at $267.03 on Thursday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84. The company’s 50-day moving average is $264.99 and its 200-day moving average is $244.09. LPL Financial Holdings Inc. has a fifty-two week low of $186.35 and a fifty-two week high of $276.12. The firm has a market capitalization of $19.95 billion, a PE ratio of 20.17, a PEG ratio of 1.08 and a beta of 0.83.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.20 annualized dividend and a dividend yield of 0.45%. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Insider Activity at LPL Financial

In related news, Director Kabir Sethi sold 1,300 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the transaction, the director now directly owns 10,245 shares in the company, valued at $2,730,292.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other LPL Financial news, Director Matthew Enyedi sold 1,381 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total transaction of $354,834.14. Following the sale, the director now directly owns 8,634 shares in the company, valued at $2,218,419.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kabir Sethi sold 1,300 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.50, for a total transaction of $346,450.00. Following the completion of the transaction, the director now directly owns 10,245 shares of the company’s stock, valued at approximately $2,730,292.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,151 shares of company stock worth $15,911,088. Corporate insiders own 1.00% of the company’s stock.

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.