State of New Jersey Common Pension Fund D Sells 80 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

State of New Jersey Common Pension Fund D cut its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 27,328 shares of the financial services provider’s stock after selling 80 shares during the period. State of New Jersey Common Pension Fund D’s holdings in LPL Financial were worth $8,923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new position in shares of LPL Financial in the third quarter worth approximately $31,000. Brooklyn Investment Group purchased a new position in shares of LPL Financial in the third quarter worth approximately $43,000. Compass Financial Services Inc purchased a new position in shares of LPL Financial in the fourth quarter worth approximately $65,000. R Squared Ltd purchased a new position in shares of LPL Financial in the fourth quarter worth approximately $78,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of LPL Financial by 32.3% in the third quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock worth $90,000 after buying an additional 94 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 28,777 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the sale, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now owns 3,920 shares in the company, 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 company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LPLA. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Citigroup raised their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Keefe, Bruyette & Woods lifted their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. TD Cowen raised shares of 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. Finally, The Goldman Sachs Group lifted their price target on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Price Performance

LPLA stock opened at $379.99 on Wednesday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $381.60. The company’s fifty day moving average price is $344.99 and its 200-day moving average price is $285.83. 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 company has a market capitalization of $28.45 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.14 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. Investors of record on Tuesday, March 11th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio is presently 8.55%.

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.