LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lessened its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating) by 14.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,818 shares of the financial services provider’s stock after selling 1,781 shares during the period. Verition Fund Management LLC’s holdings in LPL Financial were worth $1,976,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. King Luther Capital Management Corp raised its stake in LPL Financial by 2.4% during the 1st quarter. King Luther Capital Management Corp now owns 8,630 shares of the financial services provider’s stock valued at $1,577,000 after purchasing an additional 200 shares during the period. Prospera Financial Services Inc acquired a new stake in LPL Financial during the 1st quarter valued at $222,000. XML Financial LLC acquired a new stake in LPL Financial during the 1st quarter valued at $215,000. Argent Trust Co acquired a new position in shares of LPL Financial in the first quarter worth $694,000. Finally, William Blair Investment Management LLC increased its stake in shares of LPL Financial by 38.3% in the first quarter. William Blair Investment Management LLC now owns 172,828 shares of the financial services provider’s stock worth $31,572,000 after acquiring an additional 47,824 shares during the last quarter.

Insider Transactions at LPL Financial

In other news, CEO Dan H. Arnold sold 39,015 shares of LPL Financial stock in a transaction on Friday, July 29th. The shares were sold at an average price of $210.33, for a total transaction of $8,206,024.95. Following the transaction, the chief executive officer now directly owns 162,608 shares of the company’s stock, valued at $34,201,340.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Dan H. Arnold sold 39,015 shares of LPL Financial stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $210.33, for a total transaction of $8,206,024.95. Following the completion of the sale, the chief executive officer now owns 162,608 shares of the company’s stock, valued at approximately $34,201,340.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dan H. Arnold sold 11,391 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $230.63, for a total transaction of $2,627,106.33. Following the completion of the sale, the chief executive officer now directly owns 162,608 shares of the company’s stock, valued at approximately $37,502,283.04. The disclosure for this sale can be found here. Insiders have sold a total of 67,761 shares of company stock valued at $14,682,118 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

LPL Financial Price Performance

Shares of LPLA stock opened at $229.91 on Monday. The firm’s 50 day moving average price is $213.88 and its two-hundred day moving average price is $195.60. The stock has a market cap of $18.34 billion, a PE ratio of 37.14, a PEG ratio of 0.59 and a beta of 0.94. LPL Financial Holdings Inc. has a 52-week low of $139.84 and a 52-week high of $235.48. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.85 and a current ratio of 1.85.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. LPL Financial’s dividend payout ratio is 16.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LPLA. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. UBS Group upped their price target on shares of LPL Financial from $212.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, Morgan Stanley decreased their price target on shares of LPL Financial from $241.00 to $239.00 and set an “overweight” rating for the company in a report on Wednesday, August 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.83.

About LPL Financial

(Get Rating)

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

See Also

Want to see what other hedge funds are holding LPLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating).

Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.