LPL Financial Holdings Inc. (NASDAQ:LPLA) Stake Cut by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 14.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 187,008 shares of the financial services provider’s stock after selling 30,443 shares during the quarter. LPL Financial comprises 3.6% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 8th largest holding. Coronation Fund Managers Ltd.’s holdings in LPL Financial were worth $61,060,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LPLA. Ashton Thomas Securities LLC purchased a new stake in LPL Financial during the 3rd quarter valued at approximately $31,000. Paladin Wealth LLC acquired a new position in shares of LPL Financial in the third quarter valued at approximately $34,000. Brooklyn Investment Group purchased a new stake in shares of LPL Financial during the third quarter worth approximately $43,000. Compass Financial Services Inc purchased a new position in LPL Financial in the 4th quarter valued at $65,000. Finally, R Squared Ltd acquired a new position in LPL Financial in the 4th quarter valued at $78,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Trading Down 0.5 %

NASDAQ:LPLA opened at $369.14 on Monday. The company has a market capitalization of $27.64 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $375.84. The stock has a fifty day simple moving average of $339.73 and a 200-day simple moving average of $279.61. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 19.14 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s payout ratio is currently 8.55%.

Wall Street Analyst Weigh In

Several analysts have recently commented on LPLA shares. Keefe, Bruyette & Woods raised their target price 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. UBS Group raised their price objective on shares of LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their target price on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JMP Securities reissued a “market outperform” rating and set a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $379.17.

Insider Buying and Selling at LPL Financial

In related news, CFO Matthew J. Audette sold 28,777 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the transaction, the chief financial officer now owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the sale, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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.