CGN Advisors LLC Sells 444 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

CGN Advisors LLC cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,528 shares of the financial services provider’s stock after selling 444 shares during the quarter. CGN Advisors LLC’s holdings in LPL Financial were worth $2,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in LPL Financial in the third quarter worth approximately $31,000. Paladin Wealth LLC acquired a new stake in LPL Financial in the third quarter worth $34,000. Brooklyn Investment Group acquired a new position in shares of LPL Financial during the third quarter valued at about $43,000. Quarry LP boosted its position in shares of LPL Financial by 45.3% during the 2nd quarter. Quarry LP now owns 327 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 102 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of LPL Financial by 71.6% in the 4th quarter. GAMMA Investing LLC now owns 357 shares of the financial services provider’s stock valued at $117,000 after buying an additional 149 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on LPLA shares. The Goldman Sachs Group increased their price target on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley lifted their price target on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. JMP Securities reiterated a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of LPL Financial from a “neutral” rating to an “overweight” rating and raised their price target for the company from $288.00 to $397.00 in a research report on Tuesday, January 7th. Finally, UBS Group raised LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price objective for the company in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $351.50.

LPL Financial Stock Performance

Shares of LPLA stock opened at $348.93 on Friday. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $350.38. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm’s 50-day simple moving average is $327.62 and its two-hundred day simple moving average is $267.93. The firm has a market cap of $26.13 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 1.03 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the company posted $3.74 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities analysts forecast that LPL Financial Holdings Inc. will post 16.07 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Thursday, November 14th. LPL Financial’s payout ratio is currently 9.02%.

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.