BI Asset Management Fondsmaeglerselskab A S Decreases Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

BI Asset Management Fondsmaeglerselskab A S decreased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 96.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,064 shares of the financial services provider’s stock after selling 50,339 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in LPL Financial were worth $470,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in LPLA. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of LPL Financial by 3.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,145,780 shares of the financial services provider’s stock valued at $509,945,000 after acquiring an additional 79,869 shares during the last quarter. Boston Partners raised its position in LPL Financial by 21.5% during the 4th quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock valued at $233,744,000 after purchasing an additional 181,594 shares in the last quarter. Norges Bank bought a new stake in shares of LPL Financial in the fourth quarter valued at about $200,497,000. Massachusetts Financial Services Co. MA raised its holdings in shares of LPL Financial by 2.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 583,388 shares of the financial services provider’s stock valued at $132,791,000 after purchasing an additional 15,096 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in LPL Financial by 6.6% in the third quarter. American Century Companies Inc. now owns 567,856 shares of the financial services provider’s stock worth $134,951,000 after buying an additional 35,088 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the transaction, the chief executive officer now directly owns 141,810 shares in the company, valued at $37,798,037.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Matthew J. Audette sold 5,574 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.52, for a total value of $1,485,582.48. Following the sale, the chief financial officer now directly owns 13,663 shares in the company, valued at $3,641,462.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.54, for a total value of $9,277,457.78. Following the sale, the chief executive officer now owns 141,810 shares in the company, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. Insiders sold a total of 41,681 shares of company stock worth $11,109,490 over the last three months. Insiders own 1.30% of the company’s stock.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $274.49 on Friday. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.09 and a beta of 0.83. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84. The company’s 50-day moving average is $265.73 and its two-hundred day moving average is $247.64. LPL Financial Holdings Inc. has a 1-year low of $190.13 and a 1-year high of $277.31.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.44. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Analysts forecast that LPL Financial Holdings Inc. will post 15.86 EPS for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be given a $0.30 dividend. The ex-dividend date is Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a yield of 0.44%. LPL Financial’s payout ratio is currently 9.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on LPLA shares. UBS Group lifted their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. upped their price objective on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Barclays lifted their target price on shares of LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a report on Monday, April 8th. TD Cowen upped their price target on LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, JMP Securities reissued a “market outperform” rating and issued a $305.00 price target on shares of LPL Financial in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $276.20.

LPL Financial Company 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.