Avantax Advisory Services Inc. trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 21.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,989 shares of the financial services provider’s stock after selling 544 shares during the quarter. Avantax Advisory Services Inc.’s holdings in LPL Financial were worth $650,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LPLA. Egerton Capital UK LLP purchased a new stake in shares of LPL Financial during the fourth quarter worth approximately $84,145,000. Sequoia Financial Advisors LLC boosted its stake in shares of LPL Financial by 31.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 1,243 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 298 shares during the last quarter. HighTower Advisors LLC lifted its position in LPL Financial by 18.9% during the fourth quarter. HighTower Advisors LLC now owns 15,200 shares of the financial services provider’s stock worth $4,963,000 after buying an additional 2,417 shares during the period. Natural Investments LLC purchased a new position in LPL Financial during the fourth quarter worth about $212,000. Finally, GC Wealth Management RIA LLC purchased a new position in LPL Financial during the fourth quarter worth about $216,000. 95.66% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the transaction, the chief financial officer now owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,465 shares of company stock valued at $12,562,070. Insiders own 1.30% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on LPLA. Keefe, Bruyette & Woods lifted their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Morgan Stanley upped their target price on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. UBS Group upped 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. Barclays boosted their price target on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their price objective on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $379.17.
Get Our Latest Stock Analysis on LPL Financial
LPL Financial Stock Performance
Shares of LPLA stock opened at $327.90 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 fifty-two week low of $187.19 and a fifty-two week high of $384.04. The stock’s 50-day moving average is $351.95 and its two-hundred day moving average is $306.82. The firm has a market cap of $24.49 billion, a P/E ratio of 23.35, a PEG ratio of 0.94 and a beta of 0.82.
LPL Financial (NASDAQ:LPLA – Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share 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%. Analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.
LPL Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s payout ratio is currently 8.55%.
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.
See Also
Want to see what other hedge funds are holding LPLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report).
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