UniSuper Management Pty Ltd Decreases Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

UniSuper Management Pty Ltd lowered its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 36.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,600 shares of the financial services provider’s stock after selling 923 shares during the quarter. UniSuper Management Pty Ltd’s holdings in LPL Financial were worth $522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in LPL Financial by 4.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,214 shares of the financial services provider’s stock valued at $6,331,000 after purchasing an additional 1,104 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in LPL Financial in the third quarter valued at approximately $2,633,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in LPL Financial in the third quarter worth approximately $14,447,000. Azora Capital LP grew its holdings in LPL Financial by 52.2% during the 3rd quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock worth $149,708,000 after acquiring an additional 220,622 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC purchased a new stake in shares of LPL Financial in the 3rd quarter valued at approximately $7,736,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at LPL Financial

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

LPL Financial Stock Down 2.9 %

Shares of NASDAQ:LPLA opened at $327.14 on Tuesday. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $384.04. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $24.40 billion, a P/E ratio of 23.30, a P/E/G ratio of 0.94 and a beta of 0.82. The firm has a fifty day moving average price of $351.48 and a 200 day moving average price of $313.38.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (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%. Sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Tuesday, March 11th. LPL Financial’s payout ratio is currently 8.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LPLA. StockNews.com lowered LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. UBS Group increased their price objective on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Citigroup increased their price target on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Two analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently 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.