Cresset Asset Management LLC Sells 3,446 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Cresset Asset Management LLC lessened its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 82.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 735 shares of the financial services provider's stock after selling 3,446 shares during the period. Cresset Asset Management LLC's holdings in LPL Financial were worth $240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after buying an additional 276,166 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in LPL Financial by 4.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider's stock valued at $10,190,000 after acquiring an additional 1,383 shares during the period. Park Avenue Securities LLC grew its stake in LPL Financial by 5.8% during the fourth quarter. Park Avenue Securities LLC now owns 3,849 shares of the financial services provider's stock worth $1,257,000 after buying an additional 210 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of LPL Financial during the fourth quarter valued at approximately $1,460,000. Finally, Merit Financial Group LLC lifted its holdings in LPL Financial by 4.6% in the fourth quarter. Merit Financial Group LLC now owns 1,132 shares of the financial services provider's stock valued at $370,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Stock Down 0.3%

NASDAQ:LPLA traded down $1.17 during mid-day trading on Tuesday, hitting $384.20. The stock had a trading volume of 401,171 shares, compared to its average volume of 835,114. The stock has a 50-day simple moving average of $328.88 and a two-hundred day simple moving average of $334.94. The company has a market capitalization of $30.73 billion, a PE ratio of 27.36, a PEG ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month 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.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued 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 company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The business's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.83 EPS. On average, equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

LPLA has been the subject of a number of analyst reports. Morgan Stanley raised their target price on shares of LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. UBS Group boosted their target price on shares of LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Wells Fargo & Company cut their target price on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. StockNews.com upgraded shares of LPL Financial from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. upped their target price on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $374.42.

Insider Buying and Selling at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction dated Wednesday, February 26th. The stock was 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. The trade was a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial 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 completion of the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. This represents a 21.72% decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

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.