Family Wealth Partners LLC Has $35.22 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Family Wealth Partners LLC lowered its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 27.1% during the 4th quarter, HoldingsChannel reports. The fund owned 107,861 shares of the financial services provider’s stock after selling 40,035 shares during the period. LPL Financial accounts for approximately 16.7% of Family Wealth Partners LLC’s portfolio, making the stock its biggest holding. Family Wealth Partners LLC’s holdings in LPL Financial were worth $35,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Daiwa Securities Group Inc. grew its stake in shares of LPL Financial by 50.6% in the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock worth $3,685,000 after acquiring an additional 5,320 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in LPL Financial during the 3rd quarter valued at about $2,633,000. Principal Financial Group Inc. increased its stake in LPL Financial by 15.7% during 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 purchasing an additional 3,444 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after buying an additional 276,166 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of LPL Financial by 98.9% in the third quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider’s stock worth $1,782,000 after buying an additional 3,809 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Up 2.4 %

Shares of LPLA stock opened at $346.21 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $347.74. The stock has a market cap of $25.92 billion, a P/E ratio of 26.03, a P/E/G ratio of 1.03 and a beta of 0.87. The company has a 50 day simple moving average of $326.88 and a two-hundred day simple moving average of $267.46.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data 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 net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the firm posted $3.74 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts expect that LPL Financial Holdings Inc. will post 16.07 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Thursday, November 14th. LPL Financial’s payout ratio is 9.02%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LPLA. UBS Group raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price target for the company in a research report on Monday, January 6th. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. Wells Fargo & Company upped their price target on LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. 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. Finally, Jefferies Financial Group dropped their price target on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $351.50.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following 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 is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

LPL Financial 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.