Royal London Asset Management Ltd. Sells 474 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Royal London Asset Management Ltd. lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 51,068 shares of the financial services provider’s stock after selling 474 shares during the period. Royal London Asset Management Ltd.’s holdings in LPL Financial were worth $16,674,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd bought a new position in LPL Financial in the 4th quarter worth approximately $573,000. Xponance Inc. raised its position in LPL Financial by 10.4% in the 4th quarter. Xponance Inc. now owns 14,429 shares of the financial services provider’s stock worth $4,711,000 after purchasing an additional 1,363 shares during the last quarter. Boston Partners raised its position in LPL Financial by 26.0% in 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. Generali Asset Management SPA SGR bought a new position in LPL Financial in the 4th quarter worth approximately $1,031,000. Finally, Signaturefd LLC raised its position in LPL Financial by 3.1% in the 4th quarter. Signaturefd LLC now owns 1,352 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA stock opened at $327.90 on Friday. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04. The firm has a market capitalization of $24.49 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a fifty day moving average of $351.95 and a 200-day moving average of $307.43.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

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 0.37%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s payout ratio is presently 8.55%.

Insider Buying and Selling

In related news, Director Marc Eliot Cohen sold 1,100 shares of the company’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 completion of the transaction, the director now directly owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the transaction, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at approximately $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,465 shares of company stock valued at $12,562,070. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on LPLA shares. JMP Securities restated a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a research report on Friday, January 31st. StockNews.com lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Monday, March 17th. Citigroup lifted their target price on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Barclays lifted their target price on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, UBS Group lifted their target price on shares of LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $379.17.

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.