LPL Financial Holdings Inc. (NASDAQ:LPLA) Position Lowered by Point72 Asset Management L.P.

Point72 Asset Management L.P. cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 58.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,089 shares of the financial services provider's stock after selling 203,293 shares during the period. Point72 Asset Management L.P. owned 0.20% of LPL Financial worth $48,026,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners increased its position in shares of LPL Financial by 26.0% in the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock valued at $1,278,454,000 after acquiring an additional 805,637 shares during the period. Janus Henderson Group PLC raised its holdings in 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 purchasing an additional 522,032 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of LPL Financial by 2.2% during 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 buying an additional 57,485 shares during the period. Geode Capital Management LLC raised its position in LPL Financial by 1.6% during the fourth 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 during the period. Finally, JPMorgan Chase & Co. lifted its stake in 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 valued at $296,635,000 after buying an additional 276,166 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Price Performance

Shares of LPLA stock traded up $0.76 during midday trading on Monday, reaching $385.37. 361,562 shares of the company traded hands, compared to its average volume of 834,641. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $390.23. The firm has a market cap of $30.82 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. The firm's 50 day simple moving average is $327.38 and its two-hundred day simple moving average is $334.59. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the company posted $3.83 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders 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 0.31%. LPL Financial's payout ratio is 8.30%.

Analysts Set New Price Targets

LPLA has been the subject of several recent research reports. StockNews.com raised LPL Financial from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. JMP Securities increased their target price on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Barclays lifted their price objective on LPL Financial from $365.00 to $400.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. 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 report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods increased their price target on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, LPL Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $374.42.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction that occurred on 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 sale, the chief financial officer now owns 16,538 shares in the company, valued at $5,954,837.66. This represents a 21.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

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.