Westwood Holdings Group Inc. Lowers Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• Westwood Holdings Group Inc. decreased its stock position in LPL Financial Holdings by 21.6%, selling 15,155 shares, and now owns approximately 0.07% of the company valued at $18 million.
• Several hedge funds made significant moves with LPL Financial, including Millstone Evans Group LLC, which increased its holdings by 123.1%, highlighting a trend in institutional investment in the company.
• LPL Financial's latest earnings report revealed earnings per share of $4.51, exceeding estimates, with a year-over-year revenue increase of 30.8%.

Westwood Holdings Group Inc. lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 21.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,121 shares of the financial services provider's stock after selling 15,155 shares during the quarter. Westwood Holdings Group Inc. owned 0.07% of LPL Financial worth $18,032,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Anchor Investment Management LLC raised its stake in LPL Financial by 0.3% in the fourth quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock valued at $3,166,000 after buying an additional 28 shares during the period. Colonial Trust Co SC lifted its holdings in LPL Financial by 6.1% during the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock worth $165,000 after buying an additional 29 shares during the period. United Capital Financial Advisors LLC lifted its stake in shares of 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 purchasing an additional 31 shares during the period. Koshinski Asset Management Inc. raised its stake in LPL Financial by 4.9% during the 1st quarter. Koshinski Asset Management Inc. now owns 812 shares of the financial services provider's stock worth $266,000 after buying an additional 38 shares during the period. Finally, Mariner LLC grew its holdings in shares of LPL Financial by 0.3% in the fourth quarter. Mariner LLC now owns 12,611 shares of the financial services provider's stock valued at $4,117,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Price Performance

LPL Financial stock traded up $1.94 during trading hours on Monday, reaching $371.78. 87,863 shares of the stock were exchanged, compared to its average volume of 814,672. The company has a market cap of $29.74 billion, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 0.87 and a beta of 0.66. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. LPL Financial Holdings Inc. has a twelve month low of $194.36 and a twelve month high of $403.58. The stock has a 50 day moving average of $377.68 and a two-hundred day moving average of $355.81.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. The company had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%. The business's revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.88 EPS. Equities analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 15th. LPL Financial's dividend payout ratio (DPR) is presently 8.21%.

Analyst Upgrades and Downgrades

LPLA has been the topic of a number of analyst reports. JMP Securities boosted their price target on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. Keefe, Bruyette & Woods increased their price target on LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and increased their price target for the company from $420.00 to $460.00 in a report on Monday, June 9th. Barclays raised their price objective on shares of LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Citigroup lowered shares of LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective on the stock. in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, LPL Financial has an average rating of "Moderate Buy" and an average target price of $383.58.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $374.05, for a total transaction of $561,075.00. Following the completion of the transaction, the director owned 19,120 shares in the company, valued at $7,151,836. This trade represents a 7.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.30% of the company's stock.

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.