First Pacific Advisors LP Lowers Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

First Pacific Advisors LP lowered its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 458,289 shares of the financial services provider’s stock after selling 73 shares during the period. LPL Financial comprises approximately 2.1% of First Pacific Advisors LP’s holdings, making the stock its 19th largest position. First Pacific Advisors LP’s holdings in LPL Financial were worth $149,636,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of LPL Financial by 1.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,738 shares of the financial services provider’s stock worth $9,057,000 after acquiring an additional 524 shares during the period. Amundi boosted its stake in LPL Financial by 166.0% in the 4th quarter. Amundi now owns 145,443 shares of the financial services provider’s stock worth $48,494,000 after purchasing an additional 90,775 shares during the period. Dorsey & Whitney Trust CO LLC purchased a new stake in LPL Financial during the 4th quarter valued at approximately $280,000. PNC Financial Services Group Inc. raised its position in shares of LPL Financial by 22.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,897 shares of the financial services provider’s stock valued at $1,599,000 after buying an additional 909 shares during the last quarter. Finally, Camden National Bank purchased a new position in shares of LPL Financial in the fourth quarter worth $360,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 0.9 %

Shares of LPLA opened at $333.90 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $384.04. The company has a market cap of $24.94 billion, a PE ratio of 23.78, a P/E/G ratio of 0.94 and a beta of 0.82. The business has a fifty day moving average of $353.69 and a 200 day moving average of $301.03.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping 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, sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. LPL Financial’s payout ratio is 8.55%.

Analyst Ratings Changes

LPLA has been the subject of several research analyst reports. Citigroup raised their target price on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Barclays raised their price objective on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group boosted their target price on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Morgan Stanley raised their price target on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods upped their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, LPL Financial has an average rating of “Moderate Buy” and a consensus price target of $379.17.

Insider Buying and Selling

In other news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The stock was 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. This trade represents a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the sale, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,465 shares of company stock valued at $12,562,070. 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.