Insider Selling: LPL Financial Holdings Inc. (NASDAQ:LPLA) CFO Sells 28,777 Shares of Stock

LPL Financial Holdings Inc. (NASDAQ:LPLA) CFO Matthew J. Audette sold 28,777 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

LPL Financial Trading Down 0.5 %

Shares of NASDAQ:LPLA opened at $369.14 on Monday. The company has a market capitalization of $27.64 billion, a P/E ratio of 26.29, a P/E/G ratio of 0.93 and a beta of 0.87. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The business’s 50 day simple moving average is $339.73 and its 200 day simple moving average is $279.61. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $375.84.

LPL Financial (NASDAQ:LPLA) last posted its quarterly 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 return on equity of 49.41% and a net margin of 8.55%. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 19.14 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.33%. LPL Financial’s dividend payout ratio is 8.55%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LPLA. Ashton Thomas Securities LLC acquired a new stake in shares of LPL Financial in the 3rd quarter valued at $31,000. Paladin Wealth LLC acquired a new stake in LPL Financial in the third quarter valued at about $34,000. Brooklyn Investment Group bought a new position in LPL Financial in the third quarter valued at about $43,000. Jones Financial Companies Lllp raised its stake in LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 43 shares in the last quarter. Finally, Compass Financial Services Inc bought a new position in shares of LPL Financial in the fourth quarter worth about $65,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LPLA. JPMorgan Chase & Co. upped their price objective on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and raised their price target for the company from $277.00 to $413.00 in a report on Thursday, December 19th. Barclays lifted their price objective on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group raised their target price on shares of LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $435.00 target price on shares of LPL Financial in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.