KWB Wealth Sells 169 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

KWB Wealth reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 28,294 shares of the financial services provider’s stock after selling 169 shares during the period. LPL Financial accounts for 1.1% of KWB Wealth’s portfolio, making the stock its 21st biggest position. KWB Wealth’s holdings in LPL Financial were worth $9,238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. raised its holdings in shares of LPL Financial by 50.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock valued at $3,685,000 after purchasing an additional 5,320 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in LPL Financial in the third quarter worth approximately $2,633,000. Principal Financial Group Inc. lifted its holdings in LPL Financial by 15.7% during the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock worth $5,913,000 after buying an additional 3,444 shares during the period. JPMorgan Chase & Co. boosted its position in LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after acquiring an additional 276,166 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in LPL Financial by 98.9% during the 3rd quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 3,809 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on LPLA shares. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and increased their price target for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. Morgan Stanley boosted their price target on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Jefferies Financial Group cut their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. UBS Group upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price target for the company in a research report on Monday, January 6th. Finally, Barclays upped their price objective on shares of LPL Financial from $378.00 to $379.00 and gave the stock an “overweight” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, LPL Financial has an average rating of “Moderate Buy” and a consensus target price of $351.50.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $327.12 on Tuesday. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $344.86. The company has a market cap of $24.49 billion, a P/E ratio of 24.60, a P/E/G ratio of 1.60 and a beta of 0.87. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company’s 50-day moving average price is $324.28 and its 200-day moving average price is $266.02.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 49.47% and a net margin of 8.73%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.74 earnings per share. On average, sell-side analysts forecast that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.37%. LPL Financial’s dividend payout ratio (DPR) is 9.02%.

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.