Gateway Investment Advisers LLC lowered its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 26.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,871 shares of the financial services provider’s stock after selling 1,019 shares during the quarter. Gateway Investment Advisers LLC’s holdings in LPL Financial were worth $937,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. grew its holdings in shares of LPL Financial by 50.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock worth $3,685,000 after purchasing an additional 5,320 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in LPL Financial in the third quarter worth $2,633,000. Principal Financial Group Inc. lifted its position in LPL Financial by 15.7% in the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock worth $5,913,000 after purchasing an additional 3,444 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of LPL Financial by 27.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after purchasing an additional 276,166 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in shares of LPL Financial by 98.9% in the third quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 3,809 shares during the last quarter. 95.66% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the company. Barclays upped their price objective on LPL Financial from $378.00 to $379.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Jefferies Financial Group cut their price target on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. The Goldman Sachs Group boosted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Finally, JMP Securities reissued a “market outperform” rating and issued a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $351.50.
Read Our Latest Analysis on LPL Financial
LPL Financial Stock Performance
NASDAQ:LPLA opened at $348.93 on Friday. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $350.38. The firm has a market capitalization of $26.13 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.03 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. The stock’s 50-day simple moving average is $327.62 and its 200 day simple moving average is $267.83.
LPL Financial (NASDAQ:LPLA – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate of $3.69 by $0.47. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.74 EPS. On average, analysts anticipate that LPL Financial Holdings Inc. will post 16.07 EPS for the current fiscal year.
LPL Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.34%. LPL Financial’s dividend payout ratio (DPR) is currently 9.02%.
Insider Activity at LPL Financial
In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the company’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 completion of the sale, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.
LPL Financial Profile
(Free Report)
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.
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