B. Riley Wealth Advisors Inc. Sells 1,277 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

B. Riley Wealth Advisors Inc. reduced its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 57.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 934 shares of the financial services provider’s stock after selling 1,277 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in LPL Financial were worth $213,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in LPLA. Acadian Asset Management LLC increased its position in LPL Financial by 612.1% in the 3rd quarter. Acadian Asset Management LLC now owns 1,652 shares of the financial services provider’s stock worth $391,000 after buying an additional 1,420 shares during the period. LPL Financial LLC increased its position in LPL Financial by 10.6% in the 3rd quarter. LPL Financial LLC now owns 80,866 shares of the financial services provider’s stock worth $19,218,000 after buying an additional 7,746 shares during the period. Mariner LLC increased its position in LPL Financial by 2.9% in the 3rd quarter. Mariner LLC now owns 7,872 shares of the financial services provider’s stock worth $1,871,000 after buying an additional 220 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in LPL Financial by 770.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 261 shares of the financial services provider’s stock worth $62,000 after buying an additional 231 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in shares of LPL Financial by 5.1% during the 3rd quarter. Treasurer of the State of North Carolina now owns 54,478 shares of the financial services provider’s stock worth $12,947,000 after purchasing an additional 2,643 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Insider Activity at LPL Financial

In related news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following the completion of the sale, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LPLA has been the topic of several recent research reports. TD Cowen lifted their price objective on LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Morgan Stanley raised LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $254.00 to $315.00 in a report on Tuesday, April 9th. Barclays boosted their price target on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. boosted their price target on LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $305.00 price target on shares of LPL Financial in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, LPL Financial has a consensus rating of “Hold” and a consensus target price of $276.20.

LPL Financial Trading Up 0.5 %

LPLA stock opened at $276.41 on Friday. The company has a market cap of $20.65 billion, a P/E ratio of 20.88, a PEG ratio of 1.10 and a beta of 0.89. LPL Financial Holdings Inc. has a twelve month low of $200.18 and a twelve month high of $289.88. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. The business has a fifty day moving average of $274.65 and a 200-day moving average of $257.68.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.44. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. As a group, equities research analysts expect that LPL Financial Holdings Inc. will post 15.85 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a $0.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a yield of 0.43%. LPL Financial’s dividend payout ratio is presently 9.06%.

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.