LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 33.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 150,670 shares of the financial services provider’s stock after selling 76,487 shares during the quarter. Wellington Management Group LLP’s holdings in LPL Financial were worth $49,195,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. purchased a new position in LPL Financial in the 3rd quarter valued at approximately $2,633,000. HighTower Advisors LLC grew its holdings in LPL Financial by 7.8% in the third quarter. HighTower Advisors LLC now owns 12,783 shares of the financial services provider’s stock valued at $2,971,000 after purchasing an additional 923 shares during the last quarter. Investment Management Corp of Ontario increased its position in shares of LPL Financial by 48.2% in the third quarter. Investment Management Corp of Ontario now owns 2,461 shares of the financial services provider’s stock valued at $573,000 after buying an additional 800 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of LPL Financial by 1.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock worth $956,000 after buying an additional 44 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its position in shares of LPL Financial by 14.1% in the 3rd quarter. IHT Wealth Management LLC now owns 3,411 shares of the financial services provider’s stock worth $792,000 after buying an additional 422 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the firm’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 completion of the transaction, the chief financial officer now directly 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. Over the last 90 days, insiders have sold 34,465 shares of company stock worth $12,562,070. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LPLA has been the subject of a number of research reports. StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 26th. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and upped their target price for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. Keefe, Bruyette & Woods increased their target price on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company lifted their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $380.42.

LPL Financial Stock Down 9.4 %

Shares of NASDAQ:LPLA opened at $283.31 on Friday. 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 has a market cap of $21.13 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 0.94 and a beta of 0.64. The stock’s 50-day moving average price is $348.34 and its two-hundred day moving average price is $315.70. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) 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, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is currently 8.55%.

LPL Financial Profile

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.