JPMorgan Chase & Co. Decreases Stake in LPL Financial Holdings Inc (LPLA)

JPMorgan Chase & Co. trimmed its stake in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 11.2% in the 3rd quarter, Holdings Channel reports. The firm owned 262,588 shares of the financial services provider’s stock after selling 32,953 shares during the period. JPMorgan Chase & Co.’s holdings in LPL Financial were worth $16,940,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in shares of LPL Financial by 0.8% during the third quarter. BlackRock Inc. now owns 4,142,421 shares of the financial services provider’s stock worth $267,226,000 after acquiring an additional 34,253 shares during the last quarter. FMR LLC boosted its position in shares of LPL Financial by 35.4% during the third quarter. FMR LLC now owns 1,971,605 shares of the financial services provider’s stock worth $127,189,000 after acquiring an additional 515,091 shares during the last quarter. GAM Holding AG boosted its position in shares of LPL Financial by 160.5% during the third quarter. GAM Holding AG now owns 9,077 shares of the financial services provider’s stock worth $586,000 after acquiring an additional 5,593 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of LPL Financial by 5.9% during the third quarter. Allianz Asset Management GmbH now owns 280,139 shares of the financial services provider’s stock worth $18,073,000 after acquiring an additional 15,721 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in shares of LPL Financial during the third quarter worth $47,906,000. Institutional investors own 92.04% of the company’s stock.

In other news, insider Thomas Gooley sold 29,876 shares of the stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $60.72, for a total value of $1,814,070.72. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dan H. Arnold sold 36,774 shares of the stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $70.00, for a total transaction of $2,574,180.00. Following the completion of the sale, the chief executive officer now directly owns 269,761 shares in the company, valued at approximately $18,883,270. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,499 shares of company stock worth $9,867,875. 2.60% of the stock is owned by insiders.

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of LPL Financial to $100.00 and gave the stock a “buy” rating in a research report on Friday, February 1st. Zacks Investment Research lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded shares of LPL Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. ValuEngine lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Finally, Wells Fargo & Co upped their target price on shares of LPL Financial from $61.00 to $65.00 and gave the stock a “market perform” rating in a research report on Friday, January 4th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. LPL Financial has a consensus rating of “Buy” and a consensus target price of $80.44.

LPL Financial stock opened at $77.75 on Wednesday. The firm has a market cap of $6.65 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 0.81 and a beta of 1.59. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.43. LPL Financial Holdings Inc has a 52-week low of $52.03 and a 52-week high of $79.34.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 31st. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.12. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.36 billion. LPL Financial had a net margin of 8.47% and a return on equity of 46.29%. On average, equities research analysts predict that LPL Financial Holdings Inc will post 6.33 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Thursday, March 14th. LPL Financial’s payout ratio is 18.76%.

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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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