Iridian Asset Management LLC CT Sells 53,932 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Iridian Asset Management LLC CT reduced its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 65.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,902 shares of the financial services provider’s stock after selling 53,932 shares during the quarter. LPL Financial comprises about 2.5% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 13th biggest position. Iridian Asset Management LLC CT’s holdings in LPL Financial were worth $9,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LPLA. Ashton Thomas Securities LLC bought a new position in LPL Financial during the third quarter valued at $31,000. Paladin Wealth LLC bought a new position in LPL Financial in the 3rd quarter valued at $34,000. Brooklyn Investment Group purchased a new stake in LPL Financial in the third quarter worth $43,000. R Squared Ltd bought a new stake in shares of LPL Financial during the fourth quarter worth $78,000. Finally, Ameliora Wealth Management Ltd. purchased a new stake in shares of LPL Financial during the fourth quarter valued at $108,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. JMP Securities reaffirmed a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley increased their price target on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods lifted their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Trading Up 1.2 %

NASDAQ LPLA opened at $371.05 on Friday. The firm has a market cap of $27.78 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 1.13 and a beta of 0.87. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $375.74. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a 50 day moving average price of $338.85 and a 200 day moving average price of $277.76.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate 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, sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.4 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. LPL Financial’s payout ratio is 8.55%.

Insider Activity

In related news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction that occurred on 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 directly owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

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.