Canada Pension Plan Investment Board Reduces Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Canada Pension Plan Investment Board cut its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 40.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 360,578 shares of the financial services provider's stock after selling 247,187 shares during the quarter. Canada Pension Plan Investment Board owned 0.48% of LPL Financial worth $117,732,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LPLA. Farringdon Capital Ltd. acquired a new position in LPL Financial during the fourth quarter worth $513,000. Stenger Family Office LLC acquired a new position in shares of LPL Financial during the 4th quarter worth about $1,837,000. United Capital Financial Advisors LLC lifted its stake in LPL Financial by 2.6% in the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock valued at $393,000 after buying an additional 31 shares in the last quarter. Gabelli Funds LLC boosted its holdings in LPL Financial by 51.2% in the 4th quarter. Gabelli Funds LLC now owns 5,293 shares of the financial services provider's stock worth $1,728,000 after buying an additional 1,793 shares during the last quarter. Finally, Dodge & Cox increased its stake in LPL Financial by 2,922.0% during the 4th quarter. Dodge & Cox now owns 470,109 shares of the financial services provider's stock worth $153,495,000 after buying an additional 454,553 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LPLA shares. Keefe, Bruyette & Woods lifted their price target on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. StockNews.com lowered shares of LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. Citigroup cut their price objective on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley raised their target price on shares of LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Finally, JMP Securities dropped their price target on LPL Financial from $435.00 to $420.00 and set a "market outperform" rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $369.83.

Insider Activity

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now owns 4,075 shares of the company's stock, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. 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 business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the transaction, the chief financial officer now directly owns 16,538 shares of the company's stock, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,465 shares of company stock worth $12,562,070. Corporate insiders own 1.30% of the company's stock.

LPL Financial Trading Up 3.1 %

Shares of LPLA traded up $9.22 during trading on Wednesday, reaching $309.42. 195,319 shares of the company traded hands, compared to its average volume of 823,064. The stock has a 50-day simple moving average of $331.26 and a 200-day simple moving average of $322.50. 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 Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $384.04. The stock has a market cap of $24.55 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating the consensus estimate 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, analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial's dividend payout ratio is currently 8.55%.

About LPL Financial

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.