Cibc World Markets Corp Has $1.11 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Cibc World Markets Corp lessened its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 22.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,383 shares of the financial services provider’s stock after selling 970 shares during the period. Cibc World Markets Corp’s holdings in LPL Financial were worth $1,105,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LPLA. Mutual of America Capital Management LLC boosted its position in LPL Financial by 23.0% in the third quarter. Mutual of America Capital Management LLC now owns 4,388 shares of the financial services provider’s stock valued at $1,021,000 after buying an additional 821 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of LPL Financial in the 3rd quarter worth approximately $735,000. PNC Financial Services Group Inc. grew its position in LPL Financial by 11.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,988 shares of the financial services provider’s stock worth $928,000 after acquiring an additional 423 shares during the last quarter. Avior Wealth Management LLC increased its holdings in LPL Financial by 1.8% during the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 42 shares in the last quarter. Finally, Jennison Associates LLC raised its position in LPL Financial by 46.0% in the 3rd quarter. Jennison Associates LLC now owns 94,850 shares of the financial services provider’s stock valued at $22,065,000 after purchasing an additional 29,895 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LPLA shares. JMP Securities restated a “market outperform” rating and issued a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. UBS Group boosted 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. Wells Fargo & Company increased their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. Finally, Keefe, Bruyette & Woods increased their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Trading Down 2.0 %

NASDAQ LPLA opened at $327.90 on Friday. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The stock has a 50-day simple moving average of $351.95 and a 200 day simple moving average of $306.82. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $24.49 billion, a PE ratio of 23.35, a P/E/G ratio of 0.94 and a beta of 0.82.

LPL Financial (NASDAQ:LPLA) last announced 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%. Research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.37%. LPL Financial’s dividend payout ratio is 8.55%.

Insider Activity

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at $4,988,907.82. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock valued at $12,562,070 in the last quarter. Company insiders own 1.30% 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.