Engineers Gate Manager LP cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 55.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,181 shares of the financial services provider’s stock after selling 3,926 shares during the period. Engineers Gate Manager LP’s holdings in LPL Financial were worth $332,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Fulton Bank N.A. raised its position in shares of LPL Financial by 1.0% during the fourth quarter. Fulton Bank N.A. now owns 11,860 shares of the financial services provider’s stock worth $1,236,000 after purchasing an additional 115 shares during the period. CIBC World Markets Inc. raised its position in shares of LPL Financial by 1.0% during the fourth quarter. CIBC World Markets Inc. now owns 12,733 shares of the financial services provider’s stock worth $1,327,000 after purchasing an additional 130 shares during the period. Harvest Fund Management Co. Ltd raised its position in shares of LPL Financial by 90.3% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 371 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 176 shares during the period. Advisors Asset Management Inc. raised its position in shares of LPL Financial by 2.4% during the third quarter. Advisors Asset Management Inc. now owns 9,886 shares of the financial services provider’s stock worth $758,000 after purchasing an additional 230 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of LPL Financial by 17.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,295 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 493 shares during the period. 95.68% of the stock is currently owned by institutional investors.

In related news, CEO Dan H. Arnold sold 25,294 shares of the business’s stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $136.11, for a total transaction of $3,442,766.34. Following the completion of the transaction, the chief executive officer now owns 244,291 shares of the company’s stock, valued at approximately $33,250,448.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dan H. Arnold sold 7,974 shares of the business’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $130.86, for a total value of $1,043,477.64. Following the transaction, the chief executive officer now directly owns 202,095 shares of the company’s stock, valued at approximately $26,446,151.70. The disclosure for this sale can be found here. Insiders sold 59,108 shares of company stock valued at $7,912,493 in the last ninety days. Insiders own 2.30% of the company’s stock.

Shares of NASDAQ LPLA opened at $144.37 on Thursday. The business’s 50-day moving average price is $138.52 and its two-hundred day moving average price is $107.58. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.30 and a quick ratio of 1.31. LPL Financial Holdings Inc. has a one year low of $50.00 and a one year high of $147.69. The company has a market capitalization of $11.54 billion, a P/E ratio of 24.02 and a beta of 1.49.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, February 4th. The financial services provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. LPL Financial had a return on equity of 49.27% and a net margin of 8.50%. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.53 billion. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 6.27 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 30th. Shareholders of record on Tuesday, March 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%. LPL Financial’s dividend payout ratio is currently 13.93%.

A number of research analysts have recently weighed in on the company. UBS Group assumed coverage on LPL Financial in a report on Thursday, March 25th. They set a “buy” rating and a $160.00 price target on the stock. Wells Fargo & Company lifted their price target on LPL Financial from $110.00 to $122.00 in a report on Monday, January 4th. Citigroup lifted their price target on LPL Financial from $171.00 to $203.00 in a report on Monday, February 8th. Barclays lifted their price target on LPL Financial from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, January 12th. Finally, Morgan Stanley lifted their price target on LPL Financial from $150.00 to $166.00 and gave the company an “overweight” rating in a report on Wednesday, March 31st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. LPL Financial presently has a consensus rating of “Buy” and a consensus target price of $124.86.

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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