UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 581,645 shares of the financial services provider's stock after selling 33,592 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.78% of LPL Financial worth $189,913,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in LPLA. Norges Bank purchased a new position in shares of LPL Financial in the 4th quarter valued at about $305,747,000. Raymond James Financial Inc. acquired a new stake in LPL Financial in the 4th quarter valued at about $295,982,000. Boston Partners boosted its stake in shares of LPL Financial by 26.0% during 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 during the last quarter. Janus Henderson Group PLC boosted its stake in shares of LPL Financial by 20.6% during 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 purchasing an additional 522,032 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of LPL Financial during the 4th quarter worth about $153,946,000. Hedge funds and other institutional investors own 95.66% of the company's stock.
Insider Activity
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 value of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $1,652,001.16. Following the transaction, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.
LPL Financial Price Performance
Shares of LPLA opened at $377.40 on Friday. The company has a market capitalization of $30.18 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $390.23. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The business's 50-day moving average is $330.99 and its 200-day moving average is $335.95.
LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 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 for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the company posted $3.83 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. Equities research analysts expect 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. Shareholders of record on Friday, May 30th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. LPL Financial's payout ratio is presently 8.30%.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on LPLA shares. Wall Street Zen cut shares of LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday. UBS Group raised their target price on shares of LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Citigroup decreased their target price on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. JMP Securities raised their target price on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. Finally, Keefe, Bruyette & Woods raised their price target 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. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $377.50.
Check Out Our Latest Analysis on LPLA
LPL Financial Profile
(
Free Report)
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.
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