Point72 Asset Management L.P. Sells 203,293 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Point72 Asset Management L.P. trimmed its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 58.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 147,089 shares of the financial services provider’s stock after selling 203,293 shares during the quarter. Point72 Asset Management L.P.’s holdings in LPL Financial were worth $48,026,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in LPL Financial by 9.8% during the fourth quarter. ProShare Advisors LLC now owns 1,100 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 98 shares in the last quarter. Quantinno Capital Management LP lifted its position in LPL Financial by 5.2% during the fourth quarter. Quantinno Capital Management LP now owns 15,139 shares of the financial services provider’s stock valued at $4,943,000 after purchasing an additional 745 shares in the last quarter. Pathstone Holdings LLC lifted its position in LPL Financial by 0.8% during the fourth quarter. Pathstone Holdings LLC now owns 36,610 shares of the financial services provider’s stock valued at $11,954,000 after purchasing an additional 276 shares in the last quarter. Moore Capital Management LP purchased a new position in LPL Financial during the fourth quarter valued at $52,440,000. Finally, Lighthouse Investment Partners LLC purchased a new position in LPL Financial during the fourth quarter valued at $14,036,000. 95.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 4,075 shares of the company’s stock, valued at $1,490,838.75. This trade represents a 21.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the sale, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at $5,954,837.66. The trade was a 21.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on LPLA. Keefe, Bruyette & Woods raised their target price 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. JMP Securities raised their target price on shares of LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a research note on Friday, May 9th. Morgan Stanley increased their price target on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Citigroup cut their price target on LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, UBS Group increased their price target on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $374.42.

LPL Financial Stock Down 0.9%

Shares of LPLA stock opened at $381.42 on Friday. The stock has a market cap of $30.50 billion, a P/E ratio of 27.17, a PEG ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $390.23. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company’s fifty day simple moving average is $324.63 and its two-hundred day simple moving average is $332.20.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data 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 return on equity of 49.41% and a net margin of 8.55%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the company posted $3.83 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. Analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, May 30th. LPL Financial’s payout ratio is 8.30%.

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.