LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Cynosure Group LLC

Cynosure Group LLC lowered its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 48.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 885 shares of the financial services provider’s stock after selling 839 shares during the quarter. Cynosure Group LLC’s holdings in LPL Financial were worth $289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rockefeller Capital Management L.P. purchased a new position in shares of LPL Financial in the third quarter worth $2,633,000. HighTower Advisors LLC lifted its position in LPL Financial by 7.8% during the 3rd quarter. HighTower Advisors LLC now owns 12,783 shares of the financial services provider’s stock worth $2,971,000 after acquiring an additional 923 shares during the period. Investment Management Corp of Ontario lifted its position in LPL Financial by 48.2% during the 3rd quarter. Investment Management Corp of Ontario now owns 2,461 shares of the financial services provider’s stock worth $573,000 after acquiring an additional 800 shares during the period. Integrated Wealth Concepts LLC grew its stake in LPL Financial by 1.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock valued at $956,000 after purchasing an additional 44 shares during the last quarter. Finally, IHT Wealth Management LLC raised its stake in shares of LPL Financial by 14.1% in the third quarter. IHT Wealth Management LLC now owns 3,411 shares of the financial services provider’s stock worth $792,000 after purchasing an additional 422 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Down 7.6 %

Shares of LPLA opened at $312.75 on Friday. 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 firm has a market cap of $23.33 billion, a P/E ratio of 22.28, a PEG ratio of 0.94 and a beta of 0.82. The stock’s 50 day moving average is $349.88 and its two-hundred day moving average is $314.45. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Insider Activity at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the transaction, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $402,435.00. Following the sale, the director now directly owns 4,075 shares of the company’s stock, valued at $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup dropped 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. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and raised their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Wells Fargo & Company upped their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective 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, Morgan Stanley upped their target price on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $380.42.

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.