LPL Financial (NASDAQ:LPLA) Shares Down 1.7% After Insider Selling

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s share price was down 1.7% during trading on Monday following insider selling activity. The company traded as low as $362.57 and last traded at $363.01. Approximately 172,823 shares changed hands during trading, a decline of 70% from the average daily volume of 583,975 shares. The stock had previously closed at $369.14.

Specifically, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction 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. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LPLA. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. JMP Securities restated a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a research report on Friday, January 31st. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Keefe, Bruyette & Woods raised their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Morgan Stanley raised their target price on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $379.17.

LPL Financial Price Performance

The stock has a 50 day simple moving average of $339.73 and a 200-day simple moving average of $279.61. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market cap of $27.12 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating 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%. Equities analysts anticipate that LPL Financial Holdings Inc. will post 19.14 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s payout ratio is presently 8.55%.

Hedge Funds Weigh In On LPL Financial

Institutional investors have recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of LPL Financial in the 3rd quarter worth about $31,000. Paladin Wealth LLC bought a new stake in LPL Financial during the third quarter worth approximately $34,000. Brooklyn Investment Group bought a new stake in LPL Financial during the third quarter worth approximately $43,000. Jones Financial Companies Lllp raised its position in LPL Financial by 45.3% during the fourth 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 period. Finally, Compass Financial Services Inc bought a new stake in shares of LPL Financial in the 4th quarter valued at approximately $65,000. Institutional investors own 95.66% of the company’s stock.

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.