Reinhart Partners LLC. Decreases Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Reinhart Partners LLC. reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 72.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 35,404 shares of the financial services provider’s stock after selling 91,353 shares during the period. Reinhart Partners LLC.’s holdings in LPL Financial were worth $11,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of LPLA. Ashton Thomas Private Wealth LLC bought a new position in shares of LPL Financial in the second quarter worth $25,000. Ashton Thomas Securities LLC bought a new position in shares of LPL Financial in the third quarter worth $31,000. Paladin Wealth LLC bought a new position in shares of LPL Financial in the third quarter worth $34,000. Brooklyn Investment Group bought a new stake in LPL Financial during the third quarter valued at $43,000. Finally, First Horizon Advisors Inc. boosted its stake in LPL Financial by 32.3% during the third quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock valued at $90,000 after buying an additional 94 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

LPL Financial Stock Down 0.1 %

NASDAQ LPLA traded down $0.20 on Monday, hitting $330.21. The stock had a trading volume of 177,712 shares, compared to its average volume of 503,102. The business’s fifty day moving average price is $323.22 and its 200 day moving average price is $265.66. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $344.86. The stock has a market cap of $24.73 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating the consensus estimate of $3.69 by $0.47. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.74 earnings per share. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LPLA shares. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. JPMorgan Chase & Co. upgraded LPL Financial from a “neutral” rating to an “overweight” rating and raised their price target for the company from $288.00 to $397.00 in a research report on Tuesday, January 7th. The Goldman Sachs Group raised their price target on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Citigroup raised their price target on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods lifted their price objective on LPL Financial from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $351.50.

LPL Financial Company 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.