LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) by 1.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 131,958 shares of the financial services provider’s stock after selling 1,607 shares during the quarter. California State Teachers Retirement System’s holdings in LPL Financial were worth $28,830,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of LPLA. Vanguard Group Inc. boosted its position in shares of LPL Financial by 1.5% in the third quarter. Vanguard Group Inc. now owns 7,121,019 shares of the financial services provider’s stock worth $1,555,799,000 after buying an additional 104,104 shares during the period. BlackRock Inc. grew its position in LPL Financial by 7.5% in the third quarter. BlackRock Inc. now owns 4,836,280 shares of the financial services provider’s stock valued at $1,056,630,000 after acquiring an additional 338,360 shares in the last quarter. Wellington Management Group LLP grew its position in LPL Financial by 7.5% in the first quarter. Wellington Management Group LLP now owns 3,574,135 shares of the financial services provider’s stock valued at $652,923,000 after acquiring an additional 248,255 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of LPL Financial by 0.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,699,829 shares of the financial services provider’s stock valued at $498,064,000 after purchasing an additional 14,585 shares during the period. Finally, WCM Investment Management LLC lifted its position in shares of LPL Financial by 56.1% during the third quarter. WCM Investment Management LLC now owns 2,394,492 shares of the financial services provider’s stock worth $518,336,000 after purchasing an additional 860,943 shares in the last quarter. Hedge funds and other institutional investors own 94.89% of the company’s stock.

LPL Financial Trading Down 3.5 %

Shares of NASDAQ LPLA opened at $195.47 on Friday. The stock has a market capitalization of $15.38 billion, a P/E ratio of 18.76, a PEG ratio of 0.22 and a beta of 0.95. The stock’s 50 day moving average price is $235.14 and its two-hundred day moving average price is $232.12. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.25. LPL Financial Holdings Inc. has a 52-week low of $165.47 and a 52-week high of $271.56.

LPL Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 28th. Investors of record on Tuesday, March 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, March 13th. This is a boost from LPL Financial’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 0.61%. LPL Financial’s dividend payout ratio (DPR) is 11.52%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LPLA shares. Credit Suisse Group dropped their price target on shares of LPL Financial from $283.50 to $266.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $290.00 target price on shares of LPL Financial in a research report on Monday, March 13th. StockNews.com initiated coverage on LPL Financial in a report on Thursday. They issued a “hold” rating for the company. William Blair restated an “outperform” rating on shares of LPL Financial in a report on Tuesday, January 17th. Finally, JPMorgan Chase & Co. increased their target price on LPL Financial from $259.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, January 23rd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and an average target price of $260.88.

Insider Buying and Selling

In other LPL Financial news, CEO Dan H. Arnold sold 38,444 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $246.20, for a total transaction of $9,464,912.80. Following the sale, the chief executive officer now directly owns 154,884 shares of the company’s stock, valued at $38,132,440.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other LPL Financial news, CEO Dan H. Arnold sold 38,444 shares of LPL Financial stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $246.20, for a total value of $9,464,912.80. Following the completion of the transaction, the chief executive officer now directly owns 154,884 shares in the company, valued at $38,132,440.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew J. Audette sold 20,810 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $239.30, for a total value of $4,979,833.00. Following the transaction, the chief financial officer now directly owns 12,667 shares of the company’s stock, valued at $3,031,213.10. The disclosure for this sale can be found here. Insiders have sold 91,693 shares of company stock worth $22,341,455 over the last ninety days. 1.60% of the stock is owned by insiders.

LPL Financial Company Profile

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LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.