Tidal Investments LLC Lowers Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Tidal Investments LLC cut its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 52.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,656 shares of the financial services provider's stock after selling 4,006 shares during the quarter. Tidal Investments LLC's holdings in LPL Financial were worth $1,194,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Boston Partners raised its holdings in LPL Financial by 26.0% in the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock worth $1,278,454,000 after purchasing an additional 805,637 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of LPL Financial by 20.6% in the 4th quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock worth $996,032,000 after acquiring an additional 522,032 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of LPL Financial by 2.2% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider's stock worth $868,757,000 after acquiring an additional 57,485 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of LPL Financial by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider's stock worth $475,946,000 after acquiring an additional 23,111 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of LPL Financial by 27.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after acquiring an additional 276,166 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Performance

Shares of LPLA stock traded down $1.20 during trading hours on Wednesday, reaching $381.22. The company had a trading volume of 421,070 shares, compared to its average volume of 833,466. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $30.49 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. The business has a fifty day moving average price of $333.67 and a 200-day moving average price of $337.77. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted 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. The company 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 firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.83 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 dividend yield of 0.31%. The ex-dividend date is Friday, May 30th. LPL Financial's payout ratio is 8.30%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LPLA shares. Citigroup decreased their price target on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price target on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Morgan Stanley increased their price target on shares of LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Wells Fargo & Company decreased their price target on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Wall Street Zen lowered shares of LPL Financial from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $377.50.

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.