JPMorgan Chase & Co. Sells 76,021 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

JPMorgan Chase & Co. lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 6.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,199,115 shares of the financial services provider’s stock after selling 76,021 shares during the period. JPMorgan Chase & Co. owned approximately 1.60% of LPL Financial worth $391,523,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Graney & King LLC acquired a new position in shares of LPL Financial during the fourth quarter worth approximately $30,000. Brooklyn Investment Group bought a new stake in LPL Financial in the 3rd quarter valued at $43,000. Jones Financial Companies Lllp grew its position 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 worth $45,000 after purchasing an additional 43 shares during the last quarter. Atala Financial Inc bought a new position in shares of LPL Financial during the 4th quarter worth about $59,000. Finally, Compass Financial Services Inc acquired a new position in shares of LPL Financial during the fourth quarter valued at about $65,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $336.89 on Friday. The stock has a market capitalization of $25.16 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 0.94 and a beta of 0.82. The firm’s 50-day moving average price is $351.92 and its two-hundred day moving average price is $311.82. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results 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 return on equity of 49.41% and a net margin of 8.55%. On average, equities analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.36%. LPL Financial’s dividend payout ratio is 8.55%.

Insider Buying and Selling

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 13,663 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock worth $12,562,070 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

LPLA has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price target on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. JMP Securities restated a “market outperform” rating and issued a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. UBS Group raised their target price on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Barclays increased their price objective on shares of LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Morgan Stanley lifted their target price on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial 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.