Allworth Financial LP Sells 95 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Allworth Financial LP cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 17.0% during the fourth quarter, Holdings Channel reports. The fund owned 464 shares of the financial services provider’s stock after selling 95 shares during the period. Allworth Financial LP’s holdings in LPL Financial were worth $165,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. FMR LLC grew its position in LPL Financial by 24.4% during the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after acquiring an additional 650,675 shares during the last quarter. Geode Capital Management LLC grew its position in LPL Financial by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock worth $333,581,000 after acquiring an additional 36,474 shares during the last quarter. JPMorgan Chase & Co. grew its position in LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after acquiring an additional 276,166 shares during the last quarter. Southpoint Capital Advisors LP grew its position in LPL Financial by 50.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its position in LPL Financial by 21.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 710,867 shares of the financial services provider’s stock worth $165,369,000 after acquiring an additional 126,266 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of LPL Financial 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 directly owns 13,663 shares in the company, valued at $4,988,907.82. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on LPLA shares. UBS Group increased their price objective on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Barclays increased their price objective on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. JMP Securities reiterated a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a research report on Friday, January 31st. Finally, StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. 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’s stock. Based on data from MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $371.93 on Friday. The company has a market capitalization of $27.85 billion, a PE ratio of 26.49, a PEG ratio of 0.94 and a beta of 0.87. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock’s fifty day simple moving average is $348.99 and its 200 day simple moving average is $290.33.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping 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%. On average, research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The firm 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. This represents a $1.20 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s payout ratio is presently 8.55%.

LPL Financial Company 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.