Globeflex Capital L P Sells 3,368 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Globeflex Capital L P lessened its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 70.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,420 shares of the financial services provider’s stock after selling 3,368 shares during the quarter. Globeflex Capital L P’s holdings in LPL Financial were worth $464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis Advisors LLC lifted its holdings in shares of LPL Financial by 2.9% during the fourth quarter. Natixis Advisors LLC now owns 55,367 shares of the financial services provider’s stock worth $18,078,000 after purchasing an additional 1,553 shares during the period. Picton Mahoney Asset Management lifted its holdings in shares of LPL Financial by 9,444.7% during the fourth quarter. Picton Mahoney Asset Management now owns 57,268 shares of the financial services provider’s stock worth $18,698,000 after purchasing an additional 56,668 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in shares of LPL Financial during the fourth quarter worth $8,949,000. Atala Financial Inc acquired a new position in shares of LPL Financial during the fourth quarter worth $59,000. Finally, Impact Capital Partners LLC acquired a new position in shares of LPL Financial during the fourth quarter worth $941,000. Institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $10,507,633.78. Following the sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,465 shares of company stock worth $12,562,070. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and boosted their target price for the company from $277.00 to $413.00 in a report on Thursday, December 19th. Morgan Stanley boosted their target price on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Citigroup boosted their target price on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a report on Friday, January 10th. Barclays boosted their target price on shares of LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their target price 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $379.17.

LPL Financial Trading Up 4.2 %

NASDAQ:LPLA opened at $321.99 on Friday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. The company has a market cap of $24.05 billion, a PE ratio of 22.93, a PEG ratio of 0.94 and a beta of 0.82. 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 firm has a 50-day moving average of $352.35 and a 200-day moving average of $303.67.

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 the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

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.