LPL Financial Holdings Inc. (NASDAQ:LPLA) CFO Sells $10,507,633.78 in Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) CFO Matthew J. Audette sold 28,777 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

LPL Financial Trading Down 0.5 %

LPLA stock traded down $1.91 during midday trading on Friday, reaching $369.14. 685,659 shares of the company traded hands, compared to its average volume of 600,921. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market capitalization of $27.64 billion, a price-to-earnings ratio of 26.29, a P/E/G 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 $375.84. The business has a 50 day moving average of $338.85 and a 200-day moving average 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, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 19.4 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid 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 (DPR) is 8.55%.

Institutional Trading of LPL Financial

Several large investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new stake in shares of LPL Financial during the 3rd quarter worth about $31,000. Paladin Wealth LLC purchased a new stake in LPL Financial during the 3rd quarter valued at about $34,000. Brooklyn Investment Group purchased a new position in shares of LPL Financial during the 3rd quarter worth $43,000. Jones Financial Companies Lllp boosted its holdings in LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Finally, Compass Financial Services Inc purchased a new position in shares of LPL Financial during the 4th quarter worth $65,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LPLA shares. Wells Fargo & Company raised their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. JMP Securities reiterated a “market outperform” rating and issued a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. Citigroup raised their price target on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, January 10th. UBS Group upped their price objective on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods upped their price target 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 given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.17.

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.