LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock Holdings Lowered by Aquila Investment Management LLC

Aquila Investment Management LLC reduced its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 25.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. Aquila Investment Management LLC’s holdings in LPL Financial were worth $1,366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smithfield Trust Co raised its holdings in shares of LPL Financial by 164.4% in the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 74 shares in the last quarter. First Manhattan Co. bought a new stake in shares of LPL Financial in the 4th quarter worth approximately $27,000. Quarry LP raised its holdings in shares of LPL Financial by 220.4% in the 2nd quarter. Quarry LP now owns 173 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 119 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of LPL Financial in the 3rd quarter worth approximately $44,000. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of LPL Financial during the second quarter valued at approximately $49,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Performance

Shares of LPLA opened at $261.12 on Friday. The company’s fifty day moving average is $261.30 and its 200-day moving average is $239.99. LPL Financial Holdings Inc. has a 12 month low of $179.00 and a 12 month high of $274.35. The firm has a market cap of $19.51 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the business posted $4.21 EPS. LPL Financial’s quarterly revenue was up 13.3% on a year-over-year basis. Equities analysts expect that LPL Financial Holdings Inc. will post 15.55 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.46%. LPL Financial’s dividend payout ratio (DPR) is 8.79%.

Insider Transactions at LPL Financial

In related news, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the transaction, the chief executive officer now directly owns 137,044 shares in the company, valued at approximately $35,131,229.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Matthew Enyedi sold 1,381 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the transaction, the director now directly owns 8,634 shares in the company, valued at approximately $2,218,419.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the completion of the sale, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The disclosure for this sale can be found here. Insiders have sold a total of 60,151 shares of company stock worth $15,911,088 in the last 90 days. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LPLA. TD Cowen upped their price target on shares of LPL Financial from $266.00 to $269.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. JMP Securities upped their price target on shares of LPL Financial from $290.00 to $305.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price target on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. UBS Group upped their price target on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $254.00 to $315.00 in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $268.36.

About LPL Financial

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.