Franklin Resources Inc. Sells 107,600 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Franklin Resources Inc. lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 41.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 152,319 shares of the financial services provider’s stock after selling 107,600 shares during the period. Franklin Resources Inc.’s holdings in LPL Financial were worth $49,734,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Graney & King LLC bought a new stake in LPL Financial during the fourth quarter worth about $30,000. Jones Financial Companies Lllp boosted its position in shares of LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Atala Financial Inc purchased a new stake in shares of LPL Financial in the 4th quarter worth approximately $59,000. Compass Financial Services Inc bought a new position in LPL Financial during the 4th quarter valued at approximately $65,000. Finally, R Squared Ltd purchased a new position in LPL Financial during the fourth quarter valued at $78,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and raised their price target for the company from $277.00 to $413.00 in a report on Thursday, December 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $435.00 target price on shares of LPL Financial in a report on Friday, January 31st. Citigroup cut their price target on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Barclays increased their target price 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 equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $380.42.

Insider Transactions at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock worth $12,562,070 in the last three months. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Stock Down 9.4 %

LPLA stock opened at $283.31 on Friday. The business’s 50-day moving average is $348.34 and its two-hundred day moving average is $314.97. The company has a market cap of $21.13 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 0.94 and a beta of 0.82. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $384.04. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (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%. As a group, analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial’s payout ratio is 8.55%.

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.