LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,147 shares of the financial services provider’s stock after selling 1,092 shares during the period. Oppenheimer Asset Management Inc.’s holdings in LPL Financial were worth $4,619,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in LPL Financial in the 3rd quarter valued at about $31,000. Brooklyn Investment Group purchased a new stake in LPL Financial in the 3rd quarter valued at approximately $43,000. Compass Financial Services Inc purchased a new stake in LPL Financial in the 4th quarter valued at approximately $65,000. R Squared Ltd purchased a new stake in LPL Financial in the 4th quarter valued at approximately $78,000. Finally, Ameliora Wealth Management Ltd. purchased a new stake in LPL Financial in the 4th quarter valued at approximately $108,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Trading Up 2.8 %

Shares of LPL Financial stock opened at $371.74 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04. The company has a market capitalization of $27.72 billion, a P/E ratio of 26.48, a P/E/G ratio of 0.94 and a beta of 0.87. The business has a 50 day moving average price of $351.92 and a 200 day moving average price of $294.33.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (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%. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS 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. Investors of record on Tuesday, March 11th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. LPL Financial’s dividend payout ratio is currently 8.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LPLA shares. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $277.00 to $413.00 in a report on Thursday, December 19th. Barclays lifted their price objective on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday, January 31st. UBS Group lifted their price objective on 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 LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company boosted their price target on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew J. Audette sold 28,777 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 13,663 shares of the company’s stock, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,770 shares of company stock worth $12,663,312 in the last ninety days. Insiders own 1.30% of the company’s stock.

About LPL Financial

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.