Sumitomo Mitsui Trust Group Inc. Sells 2,175 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,024 shares of the financial services provider’s stock after selling 2,175 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in LPL Financial were worth $56,494,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in LPL Financial during the 3rd quarter valued at $31,000. Paladin Wealth LLC purchased a new stake in shares of LPL Financial during the third quarter valued at $34,000. Brooklyn Investment Group bought a new position in shares of LPL Financial in the third quarter worth about $43,000. R Squared Ltd bought a new stake in LPL Financial during the 4th quarter valued at about $78,000. Finally, First Horizon Advisors Inc. boosted its position in LPL Financial by 32.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock valued at $90,000 after buying an additional 94 shares during the period. Institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA opened at $366.10 on Tuesday. The company has a 50 day moving average of $340.57 and a two-hundred day moving average of $280.51. The company has a market cap of $27.41 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $375.83.

LPL Financial (NASDAQ:LPLA) last posted 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%. As a group, analysts predict that LPL Financial Holdings Inc. will post 19.14 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 issued 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 dividend yield of 0.33%. LPL Financial’s dividend payout ratio (DPR) is currently 8.55%.

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were 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 in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of research reports. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. UBS Group lifted their target price on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their price target on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. JMP Securities restated a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. Finally, Wells Fargo & Company increased their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

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.