Russell Investments Group Ltd. Has $21.46 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Russell Investments Group Ltd. reduced its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 31.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,730 shares of the financial services provider’s stock after selling 29,507 shares during the period. Russell Investments Group Ltd.’s holdings in LPL Financial were worth $21,464,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in LPLA. Graney & King LLC bought a new position in LPL Financial during the 4th quarter valued at about $30,000. Jones Financial Companies Lllp lifted its holdings in LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 43 shares during the last quarter. Atala Financial Inc bought a new position in LPL Financial during the 4th quarter valued at about $59,000. Compass Financial Services Inc bought a new position in LPL Financial during the 4th quarter valued at about $65,000. Finally, R Squared Ltd bought a new position in LPL Financial during the 4th quarter valued at about $78,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the sale, the chief financial officer now directly owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,465 shares of company stock worth $12,562,070 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Trading Up 11.2 %

LPLA stock opened at $318.88 on Thursday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The company’s 50-day simple moving average is $342.30 and its 200 day simple moving average is $317.89. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04. The company has a market capitalization of $23.78 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. As a group, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. LPL Financial’s payout ratio is 8.55%.

Analyst Upgrades and Downgrades

LPLA has been the subject of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Barclays reduced their target price on shares of LPL Financial from $414.00 to $365.00 and set an “overweight” rating for the company in a report on Monday. Citigroup reduced their target price on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, TD Cowen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $369.83.

About LPL Financial

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.