Aviva PLC Decreases Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Aviva PLC lowered its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 44.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,146 shares of the financial services provider’s stock after selling 35,721 shares during the quarter. Aviva PLC’s holdings in LPL Financial were worth $14,741,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LPLA. Resona Asset Management Co. Ltd. purchased a new position in LPL Financial during the 4th quarter valued at about $7,360,000. Wells Fargo & Company MN grew its position in shares of LPL Financial by 1.3% in the fourth quarter. Wells Fargo & Company MN now owns 504,588 shares of the financial services provider’s stock valued at $164,753,000 after purchasing an additional 6,365 shares during the last quarter. Lynwood Price Capital Management LP purchased a new position in shares of LPL Financial during the 4th quarter worth approximately $11,591,000. Systematic Alpha Investments LLC purchased a new position in shares of LPL Financial during the 4th quarter worth approximately $248,000. Finally, Prudential PLC raised its position in shares of LPL Financial by 109.6% during the 4th quarter. Prudential PLC now owns 5,757 shares of the financial services provider’s stock worth $1,880,000 after purchasing an additional 3,010 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com downgraded LPL Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 26th. Barclays dropped their price objective on LPL Financial from $414.00 to $365.00 and set an “overweight” rating for the company in a research report on Monday. Wells Fargo & Company increased their target price on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup dropped their price target on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods upped their target price on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.33.

LPL Financial Stock Performance

LPLA opened at $287.86 on Tuesday. The business has a 50 day moving average price of $347.04 and a two-hundred day moving average price of $316.90. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market capitalization of $21.47 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating 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%. Research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were paid a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.42%. LPL Financial’s dividend payout ratio is currently 8.55%.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. The trade was a 21.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now directly owns 4,075 shares of the company’s stock, valued at approximately $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 34,465 shares of company stock worth $12,562,070 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

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.