OMERS ADMINISTRATION Corp Trims Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

OMERS ADMINISTRATION Corp trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 24.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,640 shares of the financial services provider’s stock after selling 2,477 shares during the period. OMERS ADMINISTRATION Corp’s holdings in LPL Financial were worth $2,495,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LPLA. Moore Capital Management LP purchased a new position in shares of LPL Financial during the 4th quarter worth about $52,440,000. Lighthouse Investment Partners LLC purchased a new position in LPL Financial during the fourth quarter worth approximately $14,036,000. Janus Henderson Group PLC raised its stake in LPL Financial by 20.6% during the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider’s stock worth $996,032,000 after purchasing an additional 522,032 shares during the period. Jefferies Financial Group Inc. increased its stake in LPL Financial by 143.9% during the fourth quarter. Jefferies Financial Group Inc. now owns 17,400 shares of the financial services provider’s stock worth $5,681,000 after acquiring an additional 10,266 shares during the last quarter. Finally, Hudson Bay Capital Management LP lifted its position in LPL Financial by 109.0% during the fourth quarter. Hudson Bay Capital Management LP now owns 185,935 shares of the financial services provider’s stock valued at $60,710,000 after buying an additional 96,988 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

LPLA stock opened at $385.05 on Thursday. The stock’s 50 day moving average is $323.22 and its two-hundred day moving average is $331.40. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $390.23. The company has a market capitalization of $30.55 billion, a PE ratio of 27.43, a P/E/G ratio of 0.94 and a beta of 0.65. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the firm earned $3.83 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be paid a $0.30 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.31%. LPL Financial’s dividend payout ratio (DPR) is presently 8.30%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the business’s 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 $1,490,838.75. The trade was a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 16,538 shares in the company, valued at approximately $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. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LPLA. UBS Group raised their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Wells Fargo & Company cut their price objective on LPL Financial from $405.00 to $342.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. 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 report on Thursday, February 6th. JPMorgan Chase & Co. increased their target price 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, StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $374.42.

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.