LPL Financial Holdings Inc. $LPLA Holdings Decreased by Reinhart Partners LLC.

Reinhart Partners LLC. reduced its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 25.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,876 shares of the financial services provider’s stock after selling 7,289 shares during the quarter. Reinhart Partners LLC.’s holdings in LPL Financial were worth $7,457,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Osterweis Capital Management Inc. bought a new position in LPL Financial during the 2nd quarter worth $26,000. Clearstead Advisors LLC grew its stake in LPL Financial by 3,650.0% during the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after buying an additional 73 shares during the last quarter. Steigerwald Gordon & Koch Inc. grew its stake in LPL Financial by 550.0% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock worth $28,000 after buying an additional 66 shares during the last quarter. Westside Investment Management Inc. bought a new position in LPL Financial during the 3rd quarter worth $34,000. Finally, Core Wealth Advisors LLC bought a new position in LPL Financial during the 4th quarter worth $36,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Trading Down 0.9%

Shares of LPLA stock opened at $272.52 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. LPL Financial Holdings Inc. has a 1 year low of $260.15 and a 1 year high of $403.58. The stock has a fifty day moving average of $303.97 and a two-hundred day moving average of $334.18. The firm has a market capitalization of $21.80 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 0.57 and a beta of 0.50.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.49 by $0.11. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.98 billion. During the same quarter in the previous year, the firm posted $5.15 EPS. The firm’s quarterly revenue was up 34.6% on a year-over-year basis. As a group, research analysts expect that LPL Financial Holdings Inc. will post 22.98 EPS for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be issued a $0.30 dividend. The ex-dividend date is Thursday, May 21st. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. LPL Financial’s dividend payout ratio is 10.71%.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of recent research reports. Barclays upped their price objective on LPL Financial from $369.00 to $412.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods initiated coverage on LPL Financial in a research note on Wednesday, April 8th. They set an “outperform” rating and a $350.00 price objective for the company. Citigroup restated a “market outperform” rating on shares of LPL Financial in a research note on Tuesday, February 3rd. Morgan Stanley lowered their price objective on LPL Financial from $447.00 to $374.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Finally, UBS Group boosted their price target on LPL Financial from $380.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $398.86.

Insider Buying and Selling at LPL Financial

In other news, CFO Matthew J. Audette sold 1,110 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total value of $366,311.10. Following the completion of the sale, the chief financial officer owned 19,803 shares in the company, valued at $6,535,188.03. This represents a 5.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc Eliot Cohen sold 1,088 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $309.72, for a total value of $336,975.36. Following the completion of the sale, the director owned 4,400 shares of the company’s stock, valued at approximately $1,362,768. This trade represents a 19.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 4,879 shares of company stock valued at $1,538,826. Insiders own 0.60% of the company’s stock.

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.