Moran Wealth Management LLC Sells 85 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Moran Wealth Management LLC trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,722 shares of the financial services provider’s stock after selling 85 shares during the quarter. Moran Wealth Management LLC’s holdings in LPL Financial were worth $889,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LPLA. Amalgamated Bank boosted its position in LPL Financial by 11.2% during the third quarter. Amalgamated Bank now owns 5,593 shares of the financial services provider’s stock valued at $1,301,000 after buying an additional 563 shares during the period. Principal Financial Group Inc. lifted its stake in shares of LPL Financial by 15.7% in the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock valued at $5,913,000 after acquiring an additional 3,444 shares during the last quarter. Tyler Stone Wealth Management boosted its holdings in LPL Financial by 100.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 1,038 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 519 shares during the period. State of New Jersey Common Pension Fund D grew its position in LPL Financial by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 27,408 shares of the financial services provider’s stock worth $6,376,000 after acquiring an additional 165 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in LPL Financial in the third quarter valued at approximately $305,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LPLA shares. Morgan Stanley lifted their target price on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. UBS Group boosted 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. JMP Securities reiterated a “market outperform” rating and set a $435.00 target price on shares of LPL Financial in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Barclays upped their price target on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Trading Up 0.7 %

LPLA opened at $313.23 on Wednesday. The stock has a market cap of $23.39 billion, a PE ratio of 22.31, a PEG ratio of 0.94 and a beta of 0.82. The business has a 50 day moving average of $353.37 and a 200-day moving average of $301.68. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04. 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 EPS for the quarter, beating 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%. Equities research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Insider Buying and Selling at LPL Financial

In other news, CFO Matthew J. Audette sold 4,588 shares of the firm’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 in the company, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,465 shares of company stock valued at $12,562,070. Corporate insiders own 1.00% of the company’s stock.

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.