LPL Financial Holdings Inc. (NASDAQ:LPLA) Position Cut by Empowered Funds LLC

Empowered Funds LLC trimmed its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 15.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 12,115 shares of the financial services provider’s stock after selling 2,170 shares during the quarter. Empowered Funds LLC’s holdings in LPL Financial were worth $3,956,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Sanchez Wealth Management Group increased its holdings in shares of LPL Financial by 2.1% during the fourth quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider’s stock valued at $551,000 after purchasing an additional 35 shares during the period. Mather Group LLC. increased its stake in LPL Financial by 4.1% in 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. Bridges Investment Management Inc. increased its stake in LPL Financial by 3.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 37 shares in the last quarter. Avior Wealth Management LLC boosted its position in LPL Financial by 1.8% during the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock worth $562,000 after acquiring an additional 42 shares during the period. Finally, MFA Wealth Advisors LLC boosted its position in LPL Financial by 3.9% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 43 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 28,777 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the sale, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LPLA has been the subject of several research reports. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and lifted their price target for the company from $277.00 to $413.00 in a report on Thursday, December 19th. Citigroup lifted their price target on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a report on Friday, January 10th. Barclays lifted their price target on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group lifted their price target on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company lifted their price target on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $367.32 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market capitalization of $27.50 billion, a price-to-earnings ratio of 26.16, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87. The business’s fifty day moving average price is $342.16 and its two-hundred day moving average price is $282.10. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $375.83.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, analysts predict that LPL Financial Holdings Inc. will post 19.14 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. LPL Financial’s dividend payout ratio is presently 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.