Family Wealth Partners LLC Sells 3,639 Shares of LPL Financial Holdings Inc. $LPLA

Family Wealth Partners LLC cut its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,005 shares of the financial services provider’s stock after selling 3,639 shares during the quarter. LPL Financial accounts for about 13.1% of Family Wealth Partners LLC’s investment portfolio, making the stock its 2nd largest holding. Family Wealth Partners LLC owned about 0.13% of LPL Financial worth $36,433,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LPLA. Stratos Investment Management LLC increased its stake in LPL Financial by 4.2% during the third quarter. Stratos Investment Management LLC now owns 715 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 29 shares during the last quarter. PUREfi Wealth LLC lifted its position in shares of LPL Financial by 4.7% in the 3rd quarter. PUREfi Wealth LLC now owns 732 shares of the financial services provider’s stock worth $244,000 after buying an additional 33 shares during the last quarter. Eastern Bank boosted its holdings in shares of LPL Financial by 72.0% in the 3rd quarter. Eastern Bank now owns 86 shares of the financial services provider’s stock valued at $29,000 after buying an additional 36 shares during the period. Root Financial Partners LLC boosted its holdings in shares of LPL Financial by 1.6% in the 3rd quarter. Root Financial Partners LLC now owns 2,285 shares of the financial services provider’s stock valued at $760,000 after buying an additional 36 shares during the period. Finally, NBT Bank N A NY grew its position in shares of LPL Financial by 12.5% during the 3rd quarter. NBT Bank N A NY now owns 333 shares of the financial services provider’s stock valued at $111,000 after buying an additional 37 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insider Transactions at LPL Financial

In other news, Director Matthew Enyedi sold 2,109 shares of the 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 completion of the transaction, the director directly owned 14,121 shares in the company, valued at $4,520,838.15. This trade represents a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marc Eliot Cohen sold 1,088 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $309.72, for a total transaction of $336,975.36. Following the transaction, the director owned 4,400 shares in the company, valued at $1,362,768. This represents a 19.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 6,990 shares of company stock valued at $2,201,837. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LPLA. Citigroup reiterated a “market outperform” rating on shares of LPL Financial in a research note on Tuesday, February 3rd. TD Cowen lowered their target price on LPL Financial from $399.00 to $378.00 and set a “hold” rating for the company in a report on Friday, January 30th. UBS Group set a $500.00 price target on LPL Financial in a research report on Tuesday, February 3rd. Barclays cut their price target on LPL Financial from $444.00 to $434.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their price objective on LPL Financial from $433.00 to $439.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $428.71.

LPL Financial Stock Down 2.2%

LPLA opened at $296.90 on Friday. LPL Financial Holdings Inc. has a 12 month low of $262.83 and a 12 month high of $403.58. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.45 and a quick ratio of 2.45. The stock has a market cap of $23.81 billion, a P/E ratio of 26.97, a P/E/G ratio of 0.67 and a beta of 0.59. The stock’s 50 day moving average price is $330.65 and its 200 day moving average price is $345.32.

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

LPL Financial Announces Dividend

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