LPL Financial Holdings Inc. $LPLA Shares Sold by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd cut its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 31.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,391 shares of the financial services provider’s stock after selling 5,565 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in LPL Financial were worth $4,122,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Prana Capital Management LP lifted its position in shares of LPL Financial by 105.1% in the third quarter. Prana Capital Management LP now owns 8,607 shares of the financial services provider’s stock valued at $2,863,000 after acquiring an additional 4,410 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of LPL Financial during the third quarter worth approximately $954,000. Danske Bank A S purchased a new stake in shares of LPL Financial during the third quarter worth approximately $43,726,000. Advisory Services Network LLC raised its stake in LPL Financial by 28.4% in the 3rd quarter. Advisory Services Network LLC now owns 719 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 159 shares during the last quarter. Finally, Keystone Financial Group purchased a new position in LPL Financial in the 3rd quarter valued at $135,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at LPL Financial

In other news, Director Matthew Enyedi sold 2,109 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $320.15, for a total value of $675,196.35. Following the transaction, the director directly owned 14,121 shares in the company, valued at approximately $4,520,838.15. This represents a 12.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Marc Eliot Cohen sold 1,088 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $309.72, for a total transaction of $336,975.36. Following the transaction, the director directly owned 4,400 shares of the company’s stock, valued at $1,362,768. The trade was a 19.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,990 shares of company stock worth $2,201,837 over the last three months. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of research reports. Jefferies Financial Group upped their target price on shares of LPL Financial from $426.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Citigroup reissued a “market outperform” rating on shares of LPL Financial in a research note on Tuesday, February 3rd. Morgan Stanley lowered their price target on shares of LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a research report on Monday, December 22nd. Wolfe Research set a $478.00 price objective on shares of LPL Financial in a research note on Friday, January 30th. Finally, Barclays cut their price objective on shares of LPL Financial from $444.00 to $434.00 and set an “overweight” rating for the company in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $428.71.

LPL Financial Price Performance

NASDAQ:LPLA opened at $293.27 on Monday. LPL Financial Holdings Inc. has a 52 week low of $262.83 and a 52 week high of $403.58. The stock’s fifty day moving average is $337.76 and its two-hundred day moving average is $346.88. The company has a market capitalization of $23.52 billion, a P/E ratio of 26.64, a P/E/G ratio of 0.65 and a beta of 0.59. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 1.36.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $5.23 earnings per share for the quarter, topping analysts’ consensus estimates of $4.82 by $0.41. The business had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.90 billion. LPL Financial had a return on equity of 34.19% and a net margin of 5.08%.The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.25 EPS. Equities analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. LPL Financial’s dividend payout ratio (DPR) is currently 10.90%.

About LPL Financial

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.