LPL Financial (NASDAQ:LPLA) Stock Price Down 1.7% After Insider Selling

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s share price dropped 1.7% on Monday after an insider sold shares in the company. The company traded as low as $362.57 and last traded at $363.01. Approximately 172,823 shares changed hands during trading, a decline of 70% from the average daily volume of 583,975 shares. The stock had previously closed at $369.14.

Specifically, CFO Matthew J. Audette sold 28,777 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were 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 directly owns 13,663 shares of the company’s stock, valued at $4,988,907.82. This represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

LPLA has been the topic of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and set a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. Citigroup upped their price target on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, January 10th. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. JPMorgan Chase & Co. boosted their target price on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley raised their price target on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $379.17.

LPL Financial Stock Down 0.8 %

The stock has a market cap of $27.41 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 0.93 and a beta of 0.87. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm’s 50 day moving average is $340.57 and its two-hundred day moving average is $280.51.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share 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, sell-side analysts predict that LPL Financial Holdings Inc. will post 19.14 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s dividend payout ratio is presently 8.55%.

Institutional Investors Weigh In On LPL Financial

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in LPL Financial during the fourth quarter worth about $295,982,000. FMR LLC increased its stake in shares of LPL Financial by 24.4% during the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after acquiring an additional 650,675 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after acquiring an additional 276,166 shares during the period. Egerton Capital UK LLP purchased a new position in shares of LPL Financial during the 4th quarter worth about $84,145,000. Finally, Southpoint Capital Advisors LP boosted its position in shares of LPL Financial by 50.0% in the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after acquiring an additional 250,000 shares during the last quarter. Institutional investors and hedge funds own 95.66% 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.