LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 68,791 shares of the financial services provider’s stock after selling 878 shares during the period. NewEdge Wealth LLC’s holdings in LPL Financial were worth $22,461,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Magnolia Private Wealth LLC acquired a new stake in shares of LPL Financial during the fourth quarter worth about $506,000. Impact Investors Inc acquired a new stake in LPL Financial during the 4th quarter worth approximately $393,000. National Pension Service boosted its position in LPL Financial by 1.7% in the 4th quarter. National Pension Service now owns 119,724 shares of the financial services provider’s stock valued at $39,091,000 after buying an additional 2,000 shares during the period. Amalgamated Bank grew its stake in shares of LPL Financial by 1.2% in the fourth quarter. Amalgamated Bank now owns 5,662 shares of the financial services provider’s stock worth $1,849,000 after acquiring an additional 69 shares in the last quarter. Finally, World Equity Group Inc. purchased a new stake in shares of LPL Financial during the fourth quarter worth $561,000. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Stock Up 1.4 %

LPLA opened at $362.20 on Thursday. The stock has a market capitalization of $27.01 billion, a P/E ratio of 25.80, a price-to-earnings-growth ratio of 0.94 and a beta of 0.87. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. The business’s 50-day simple moving average is $351.24 and its 200-day simple moving average is $293.86. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.33%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Insider Activity at LPL Financial

In other news, 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 sale, the chief financial officer now owns 13,663 shares of the company’s stock, valued at $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on LPLA. Barclays lifted their target price on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. UBS Group raised their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, January 31st. Citigroup boosted their price target on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Morgan Stanley raised their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, LPL Financial has an average 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.