Envestnet Asset Management Inc. Decreases Stake in LPL Financial Holdings Inc. $LPLA

Envestnet Asset Management Inc. cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 397,355 shares of the financial services provider’s stock after selling 15,323 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.50% of LPL Financial worth $132,196,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. AGF Management Ltd. increased its holdings in shares of LPL Financial by 74.9% in the second quarter. AGF Management Ltd. now owns 765,024 shares of the financial services provider’s stock worth $286,861,000 after purchasing an additional 327,580 shares during the period. Bryn Mawr Trust Advisors LLC bought a new position in LPL Financial in the 2nd quarter worth about $316,000. WCM Investment Management LLC raised its holdings in shares of LPL Financial by 0.7% in the 3rd quarter. WCM Investment Management LLC now owns 1,742,991 shares of the financial services provider’s stock valued at $593,663,000 after acquiring an additional 12,214 shares in the last quarter. Independent Advisor Alliance boosted its position in shares of LPL Financial by 41.5% during the 3rd quarter. Independent Advisor Alliance now owns 5,341 shares of the financial services provider’s stock valued at $1,777,000 after acquiring an additional 1,566 shares during the last quarter. Finally, Callan Family Office LLC purchased a new position in shares of LPL Financial during the second quarter worth about $1,514,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

LPL Financial stock opened at $385.14 on Friday. The firm has a fifty day simple moving average of $369.23 and a two-hundred day simple moving average of $358.51. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49. LPL Financial Holdings Inc. has a twelve month low of $262.83 and a twelve month high of $403.58. The company has a market capitalization of $30.83 billion, a PE ratio of 34.98, a P/E/G ratio of 0.82 and a beta of 0.58.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $5.23 EPS for the quarter, topping the consensus estimate of $4.82 by $0.41. LPL Financial had a return on equity of 35.99% and a net margin of 5.08%.The firm had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the business earned $4.25 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 10th. LPL Financial’s dividend payout ratio is 10.90%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LPLA. Wolfe Research set a $478.00 target price on shares of LPL Financial in a research report on Friday, January 30th. Citizens Jmp lifted their price objective on shares of LPL Financial from $455.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, October 31st. JMP Securities set a $475.00 target price on LPL Financial in a research note on Friday, October 31st. JPMorgan Chase & Co. raised their price target on LPL Financial from $433.00 to $439.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Citigroup reiterated a “market outperform” rating on shares of LPL Financial in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $431.80.

Insider Transactions at LPL Financial

In other LPL Financial news, CEO Richard Steinmeier sold 5,058 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $370.99, for a total transaction of $1,876,467.42. Following the completion of the sale, the chief executive officer owned 9,326 shares of the company’s stock, valued at $3,459,852.74. This represents a 35.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Greg Gates sold 750 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $370.97, for a total transaction of $278,227.50. Following the completion of the transaction, the director owned 14,620 shares in the company, valued at $5,423,581.40. The trade was a 4.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 5,888 shares of company stock worth $2,182,893. Insiders own 1.30% of the company’s stock.

LPL Financial Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.