Tredje AP fonden Sells 5,944 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Tredje AP fonden trimmed its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,945 shares of the financial services provider’s stock after selling 5,944 shares during the quarter. Tredje AP fonden’s holdings in LPL Financial were worth $1,941,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vestcor Inc grew its stake in LPL Financial by 80.1% in the fourth quarter. Vestcor Inc now owns 2,838 shares of the financial services provider’s stock valued at $927,000 after purchasing an additional 1,262 shares in the last quarter. Egerton Capital UK LLP bought a new position in shares of LPL Financial during the 4th quarter worth approximately $84,145,000. Sequoia Financial Advisors LLC boosted its stake in shares of LPL Financial by 31.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 1,243 shares of the financial services provider’s stock worth $406,000 after acquiring an additional 298 shares during the period. HighTower Advisors LLC boosted its stake in shares of LPL Financial by 18.9% during the 4th quarter. HighTower Advisors LLC now owns 15,200 shares of the financial services provider’s stock worth $4,963,000 after acquiring an additional 2,417 shares during the period. Finally, Natural Investments LLC bought a new position in shares of LPL Financial during the 4th quarter worth approximately $212,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $321.99 on Friday. The stock has a fifty day moving average price of $352.58 and a 200-day moving average price of $302.47. The company has a market cap of $24.05 billion, a price-to-earnings 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 quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $384.04.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating 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%. As a group, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. LPL Financial’s dividend payout ratio is currently 8.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LPLA. JMP Securities reiterated a “market outperform” rating and set a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. Citigroup lifted their target price on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Barclays lifted their target price on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods upped their price objective on 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 given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and an average price target of $379.17.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 4,588 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. This represents a 21.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $402,435.00. Following the sale, the director now owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock worth $12,562,070 in the last ninety days. 1.00% of the stock is owned by insiders.

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.