LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 16.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,764 shares of the financial services provider's stock after selling 9,320 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.06% of LPL Financial worth $15,595,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Graney & King LLC purchased a new position in LPL Financial in the 4th quarter valued at about $30,000. Itau Unibanco Holding S.A. acquired a new position in shares of LPL Financial during the fourth quarter valued at approximately $42,000. Jones Financial Companies Lllp lifted its position in shares of LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 43 shares in the last quarter. Atala Financial Inc acquired a new stake in shares of LPL Financial in the fourth quarter worth approximately $59,000. Finally, Compass Financial Services Inc purchased a new stake in shares of LPL Financial during the fourth quarter worth approximately $65,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Trading Down 0.9%

LPLA stock traded down $3.63 during midday trading on Thursday, hitting $381.42. 742,839 shares of the company's stock were exchanged, compared to its average volume of 832,903. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $390.23. 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 stock has a market capitalization of $30.26 billion, a PE ratio of 27.17, a P/E/G ratio of 0.94 and a beta of 0.65. The business has a 50-day simple moving average of $323.22 and a two-hundred day simple moving average of $331.40.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data 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 return on equity of 49.41% and a net margin of 8.55%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period last year, the company earned $3.83 EPS. The company's quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.31%. LPL Financial's dividend payout ratio is currently 8.30%.

Analysts Set New Price Targets

LPLA has been the topic of a number of research reports. UBS Group raised their price objective on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a report on Friday, January 31st. Morgan Stanley raised their price target 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. Keefe, Bruyette & Woods increased their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, JMP Securities upped their price target on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $374.42.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 4,588 shares of the business's stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

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.