Coronation Fund Managers Ltd. Sells 30,443 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Coronation Fund Managers Ltd. lowered its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 14.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 187,008 shares of the financial services provider’s stock after selling 30,443 shares during the quarter. LPL Financial comprises about 3.6% of Coronation Fund Managers Ltd.’s holdings, making the stock its 8th biggest holding. Coronation Fund Managers Ltd. owned approximately 0.25% of LPL Financial worth $61,060,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LPLA. Livforsakringsbolaget Skandia Omsesidigt increased its stake in LPL Financial by 500.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 600 shares of the financial services provider’s stock worth $140,000 after acquiring an additional 500 shares during the last quarter. Annex Advisory Services LLC grew its holdings in shares of LPL Financial by 35.1% during the 3rd quarter. Annex Advisory Services LLC now owns 15,606 shares of the financial services provider’s stock worth $3,630,000 after purchasing an additional 4,056 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of LPL Financial by 314.0% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 15,801 shares of the financial services provider’s stock worth $3,676,000 after purchasing an additional 11,984 shares during the period. Oliver Luxxe Assets LLC increased its position in shares of LPL Financial by 1.7% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 8,373 shares of the financial services provider’s stock worth $1,948,000 after purchasing an additional 144 shares during the last quarter. Finally, Paladin Wealth LLC purchased a new stake in LPL Financial in the 3rd quarter valued at about $34,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Aneri Jambusaria sold 305 shares of the business’s 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 sale, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $369.14 on Monday. The business has a 50-day simple moving average of $339.73 and a 200-day simple moving average of $279.61. The company has a market cap of $27.64 billion, a PE ratio of 26.29, a P/E/G ratio of 0.93 and a beta of 0.87. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $375.84. 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 quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 19.14 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s dividend payout ratio is presently 8.55%.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of recent analyst reports. TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and lifted their price target for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. UBS Group lifted their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, January 31st. Wells Fargo & Company boosted their target price on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $379.17.

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.