Ensign Peak Advisors Inc Cuts Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Ensign Peak Advisors Inc decreased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 16.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,764 shares of the financial services provider’s stock after selling 9,320 shares during the quarter. Ensign Peak Advisors Inc owned 0.06% of LPL Financial worth $15,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Graney & King LLC purchased a new stake in LPL Financial in the fourth quarter valued at approximately $30,000. Itau Unibanco Holding S.A. acquired a new position in shares of LPL Financial in the fourth quarter worth $42,000. Jones Financial Companies Lllp grew its stake in shares of LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 43 shares in the last quarter. Atala Financial Inc acquired a new position in shares of LPL Financial during the fourth quarter worth $59,000. Finally, Compass Financial Services Inc acquired a new position in shares of LPL Financial during the fourth quarter worth $65,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insiders Place Their Bets

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the transaction, the chief financial officer now owns 16,538 shares of the company’s stock, valued at $5,954,837.66. This trade represents a 21.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred 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 represents a 21.26% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

LPL Financial Stock Up 6.3%

Shares of NASDAQ LPLA opened at $360.42 on Monday. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04. The firm’s 50 day moving average price is $320.64 and its 200 day moving average price is $329.85. The firm has a market cap of $28.60 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. 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 (NASDAQ:LPLA) last announced its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the business earned $3.83 earnings per share. LPL Financial’s revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Friday, May 30th. LPL Financial’s dividend payout ratio is currently 8.30%.

Analyst Ratings Changes

LPLA has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods upped their price target on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. JMP Securities increased their price target on shares of LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a report on Friday. StockNews.com lowered LPL Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, March 26th. Finally, Citigroup decreased their target price on LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, LPL Financial has an average rating of “Moderate Buy” and a consensus price target of $371.50.

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.