LPL Financial Holdings Inc. (NASDAQ:LPLA) Stake Decreased by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 32.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,012 shares of the financial services provider’s stock after selling 490 shares during the period. Cornerstone Investment Partners LLC’s holdings in LPL Financial were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in LPLA. First Manhattan Co. bought a new stake in shares of LPL Financial during the fourth quarter valued at approximately $27,000. Smithfield Trust Co increased its stake in shares of LPL Financial by 164.4% during the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 74 shares during the period. Quarry LP increased its stake in shares of LPL Financial by 220.4% during the second quarter. Quarry LP now owns 173 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 119 shares during the period. Fred Alger Management LLC acquired a new position in shares of LPL Financial during the third quarter valued at approximately $44,000. Finally, First Capital Advisors Group LLC. acquired a new position in shares of LPL Financial during the second quarter valued at approximately $49,000. Institutional investors own 95.66% of the company’s stock.

Insider Buying and Selling at LPL Financial

In related news, Director Matthew Enyedi sold 1,381 shares of LPL Financial stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the sale, the director now owns 8,634 shares of the company’s stock, valued at approximately $2,218,419.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Matthew J. Audette sold 5,574 shares of LPL Financial stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.52, for a total value of $1,485,582.48. Following the transaction, the chief financial officer now owns 13,663 shares in the company, valued at approximately $3,641,462.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Enyedi sold 1,381 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.94, for a total transaction of $354,834.14. Following the transaction, the director now owns 8,634 shares in the company, valued at approximately $2,218,419.96. The disclosure for this sale can be found here. Insiders sold 60,151 shares of company stock valued at $15,911,088 in the last quarter. Company insiders own 1.30% of the company’s stock.

LPL Financial Trading Up 0.6 %

LPL Financial stock traded up $1.60 during midday trading on Friday, reaching $261.37. The stock had a trading volume of 127,419 shares, compared to its average volume of 526,029. The firm’s fifty day simple moving average is $262.60 and its two-hundred day simple moving average is $240.60. LPL Financial Holdings Inc. has a twelve month low of $179.00 and a twelve month high of $274.35. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $19.52 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.26 and a beta of 0.84.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.18. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.55 billion. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $4.21 EPS. Equities analysts anticipate that LPL Financial Holdings Inc. will post 15.55 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Monday, March 11th. LPL Financial’s dividend payout ratio (DPR) is currently 8.79%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LPLA shares. TD Cowen raised their price objective on shares of LPL Financial from $266.00 to $269.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. JMP Securities raised their price objective on shares of LPL Financial from $290.00 to $305.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 9th. UBS Group raised their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial currently has a consensus rating of “Hold” and an average target price of $268.36.

LPL Financial 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.