Shell Asset Management Co. Reduces Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Shell Asset Management Co. lowered its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 14.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,465 shares of the financial services provider’s stock after selling 254 shares during the quarter. Shell Asset Management Co.’s holdings in LPL Financial were worth $478,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Graney & King LLC purchased a new stake in LPL Financial in the 4th quarter worth approximately $30,000. Itau Unibanco Holding S.A. purchased a new stake in LPL Financial in the 4th quarter worth approximately $42,000. Jones Financial Companies Lllp lifted its stake in shares of LPL Financial by 45.3% in 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 period. Atala Financial Inc purchased a new position in shares of LPL Financial in the 4th quarter valued at approximately $59,000. Finally, Compass Financial Services Inc purchased a new position in shares of LPL Financial in the 4th quarter valued at approximately $65,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Up 0.8%

Shares of NASDAQ:LPLA opened at $384.61 on Monday. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $390.23. The stock has a fifty day simple moving average of $326.05 and a two-hundred day simple moving average of $333.86. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $30.76 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 0.94 and a beta of 0.65.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the previous year, the business earned $3.83 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, May 30th. LPL Financial’s dividend payout ratio is currently 8.30%.

Insider Transactions at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now owns 16,538 shares of the company’s stock, valued at $5,954,837.66. This represents a 21.72% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on LPLA. Morgan Stanley raised their target price on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Citigroup lowered their target price on LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Barclays raised their target price on LPL Financial from $365.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. raised their target price on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and an average target price of $374.42.

LPL Financial Company Profile

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.