Envestnet Portfolio Solutions Inc. Has $3.85 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Envestnet Portfolio Solutions Inc. cut its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,802 shares of the financial services provider’s stock after selling 607 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in LPL Financial were worth $3,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of LPLA. Wealth Alliance lifted its stake in shares of LPL Financial by 2.1% in the fourth quarter. Wealth Alliance now owns 1,483 shares of the financial services provider’s stock valued at $484,000 after buying an additional 30 shares during the period. Sanchez Wealth Management Group lifted its position in shares of LPL Financial by 2.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider’s stock worth $551,000 after acquiring an additional 35 shares during the period. Mather Group LLC. grew its holdings in shares of LPL Financial by 4.1% during the 4th quarter. Mather Group LLC. now owns 916 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 36 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of LPL Financial by 1.8% during the third quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 42 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 43 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Price Performance

LPL Financial stock opened at $326.30 on Wednesday. The business’s fifty day moving average is $352.00 and its two-hundred day moving average is $305.72. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $24.37 billion, a P/E ratio of 23.24, a P/E/G ratio of 0.94 and a beta of 0.82. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio is currently 8.55%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LPLA. StockNews.com downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Monday. JMP Securities reissued a “market outperform” rating and issued a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Citigroup upped their price objective on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. raised 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. Two analysts have rated the stock with a sell rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, LPL Financial currently has a consensus 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 the business’s 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 owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This represents a 21.72 % 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 quarter. 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.