Insider Selling: LPL Financial Holdings Inc. (NASDAQ:LPLA) Director Sells 1,100 Shares of Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) 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 transaction of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

LPL Financial Stock Down 0.1 %

LPLA opened at $361.67 on Friday. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The business has a 50-day moving average of $351.24 and a two-hundred day moving average of $293.86. 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 stock has a market capitalization of $26.97 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 0.94 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (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%. On average, research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently announced 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 dividend yield of 0.33%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is currently 8.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Anchor Investment Management LLC increased its stake in LPL Financial by 0.3% during the fourth quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider’s stock worth $3,166,000 after acquiring an additional 28 shares during the last quarter. Colonial Trust Co SC grew its holdings in shares of LPL Financial by 6.1% during the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 29 shares during the period. Wealth Alliance increased its position in LPL Financial by 2.1% during the 4th quarter. Wealth Alliance now owns 1,483 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 30 shares in the last quarter. United Capital Financial Advisors LLC raised its holdings in LPL Financial by 2.6% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider’s stock valued at $393,000 after buying an additional 31 shares during the period. Finally, Sanchez Wealth Management Group lifted its position in LPL Financial by 2.1% during the fourth quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider’s stock valued at $551,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Wells Fargo & Company upped their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Barclays increased their price objective on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

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.