Franklin Resources Inc. Reduces Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Franklin Resources Inc. reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 41.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,319 shares of the financial services provider’s stock after selling 107,600 shares during the quarter. Franklin Resources Inc. owned approximately 0.20% of LPL Financial worth $49,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in LPLA. O Shaughnessy Asset Management LLC raised its stake in LPL Financial by 10.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,182 shares of the financial services provider’s stock valued at $4,631,000 after acquiring an additional 1,356 shares during the period. Mawer Investment Management Ltd. boosted its holdings in shares of LPL Financial by 34.9% in the fourth quarter. Mawer Investment Management Ltd. now owns 58,010 shares of the financial services provider’s stock worth $18,941,000 after acquiring an additional 14,994 shares during the period. Okabena Investment Services Inc. purchased a new position in LPL Financial during the 4th quarter valued at about $513,000. Intrust Bank NA bought a new stake in shares of LPL Financial during the fourth quarter valued at about $263,000. Finally, Allstate Corp purchased a new stake in shares of LPL Financial in the fourth quarter worth about $720,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Down 9.4 %

Shares of NASDAQ:LPLA opened at $283.31 on Friday. The stock has a market capitalization of $21.13 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The stock’s 50-day moving average price is $348.34 and its 200-day moving average price is $314.97. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. 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 released its quarterly earnings data 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%. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.30 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.42%. LPL Financial’s payout ratio is presently 8.55%.

Insider Activity at LPL Financial

In related 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 completion of the sale, the chief financial officer now owns 13,663 shares of the company’s stock, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock worth $12,562,070 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on LPLA shares. Keefe, Bruyette & Woods upped their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup reduced their target price on LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday. UBS Group raised their price target on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, January 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.