Jackson Square Partners LLC Decreases Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Jackson Square Partners LLC reduced its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 52.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 159,588 shares of the financial services provider's stock after selling 174,794 shares during the period. Jackson Square Partners LLC owned approximately 0.21% of LPL Financial worth $36,325,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new position in LPL Financial during the 4th quarter worth $25,000. Smithfield Trust Co boosted its holdings in shares of LPL Financial by 164.4% in the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 74 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of LPL Financial in the fourth quarter valued at about $30,000. Gladius Capital Management LP purchased a new stake in shares of LPL Financial in the fourth quarter valued at about $30,000. Finally, American National Bank purchased a new stake in shares of LPL Financial in the fourth quarter valued at about $32,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Matthew Enyedi sold 1,381 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the transaction, the director now owns 8,634 shares of the company's stock, valued at $2,218,419.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Matthew Enyedi sold 1,381 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the transaction, the director now owns 8,634 shares of the company's stock, valued at $2,218,419.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Dan H. Arnold sold 34,807 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the transaction, the chief executive officer now directly owns 141,810 shares of the company's stock, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. Insiders sold a total of 60,151 shares of company stock valued at $15,911,088 over the last 90 days. Insiders own 1.30% of the company's stock.

LPL Financial Price Performance

LPLA traded up $0.23 during midday trading on Friday, reaching $267.77. 306,855 shares of the company's stock were exchanged, compared to its average volume of 551,833. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $20.01 billion, a PE ratio of 20.22, a P/E/G ratio of 1.07 and a beta of 0.83. The business's 50-day moving average price is $265.13 and its 200 day moving average price is $246.37. LPL Financial Holdings Inc. has a 1-year low of $190.13 and a 1-year high of $276.12.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, May 20th. LPL Financial's dividend payout ratio is presently 9.06%.

Analysts Set New Price Targets

Several analysts have recently weighed in on LPLA shares. TD Cowen lifted their target price on shares of LPL Financial from $269.00 to $271.00 and gave the company a "hold" rating in a report on Wednesday, May 1st. Morgan Stanley raised shares of LPL Financial from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $254.00 to $315.00 in a report on Tuesday, April 9th. JMP Securities reissued a "market outperform" rating and set a $305.00 price objective on shares of LPL Financial in a report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $254.00 to $260.00 and gave the stock a "neutral" rating in a report on Tuesday, April 2nd. Finally, UBS Group boosted their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, LPL Financial presently has a consensus rating of "Hold" and an average price target of $276.20.

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.