Independent Advisor Alliance Cuts Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Independent Advisor Alliance lowered its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 26.4% in the fourth quarter, Holdings Channel reports. The firm owned 3,463 shares of the financial services provider’s stock after selling 1,239 shares during the period. Independent Advisor Alliance’s holdings in LPL Financial were worth $1,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its stake 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 worth $45,000 after buying an additional 43 shares during the period. Brooklyn Investment Group acquired a new position in shares of LPL Financial during the 3rd quarter valued at $43,000. Compass Financial Services Inc purchased a new stake in LPL Financial during the 4th quarter worth $65,000. R Squared Ltd acquired a new stake in LPL Financial in the 4th quarter valued at $78,000. Finally, Ameliora Wealth Management Ltd. purchased a new position in LPL Financial in the fourth quarter valued at about $108,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Trading Up 4.2 %

NASDAQ:LPLA opened at $321.99 on Friday. The company has a market cap of $24.05 billion, a PE ratio of 22.93, a P/E/G ratio of 0.94 and a beta of 0.82. The business’s 50 day moving average is $352.35 and its two-hundred day moving average is $303.67. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04.

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

LPL Financial Dividend Announcement

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

Insider Buying and Selling

In related news, Director Marc Eliot Cohen sold 1,100 shares of the company’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 completion of the transaction, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. This represents a 21.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the chief financial officer now owns 13,663 shares in the company, valued at $4,988,907.82. The trade was a 67.81 % 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 over the last quarter. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company upped their price target on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Morgan Stanley lifted their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. JMP Securities reaffirmed a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a report on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. One 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’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.