LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock Position Raised by Fiduciary Trust Co

Fiduciary Trust Co lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,860 shares of the financial services provider’s stock after acquiring an additional 127 shares during the quarter. Fiduciary Trust Co’s holdings in LPL Financial were worth $607,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. FJ Capital Management LLC bought a new stake in shares of LPL Financial during the 4th quarter worth $2,921,000. Colonial Trust Co SC lifted its holdings in shares of LPL Financial by 6.1% in the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 29 shares in the last quarter. Crestline Management LP lifted its holdings in shares of LPL Financial by 18.7% in the fourth quarter. Crestline Management LP now owns 19,783 shares of the financial services provider’s stock valued at $6,459,000 after purchasing an additional 3,117 shares in the last quarter. Castle Hook Partners LP purchased a new stake in shares of LPL Financial in the fourth quarter valued at $24,859,000. Finally, Cetera Investment Advisers lifted its holdings in shares of LPL Financial by 1.4% in the fourth quarter. Cetera Investment Advisers now owns 14,653 shares of the financial services provider’s stock valued at $4,784,000 after purchasing an additional 201 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LPLA shares. Morgan Stanley increased their target price on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. UBS Group increased their target price on 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 reduced their target price on LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Citigroup reduced their target price on LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, StockNews.com lowered LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $371.50.

Insiders Place Their Bets

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the 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 transaction, the director now directly owns 4,075 shares of the company’s stock, valued at $1,490,838.75. This represents a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the transaction, the chief financial officer now directly owns 16,538 shares in the company, 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. Company insiders own 1.30% of the company’s stock.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $360.42 on Monday. 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 $28.60 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04. The business has a fifty day simple moving average of $320.64 and a 200 day simple moving average of $329.85.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping the consensus estimate of $4.54 by $0.61. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.83 earnings per share. As a group, sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, May 30th. LPL Financial’s payout ratio is 8.30%.

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.