Headlands Technologies LLC Cuts Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Headlands Technologies LLC lowered its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 57.5% in the fourth quarter, Holdings Channel reports. The firm owned 12,369 shares of the financial services provider’s stock after selling 16,757 shares during the period. Headlands Technologies LLC’s holdings in LPL Financial were worth $4,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LPLA. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of LPL Financial by 4.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,214 shares of the financial services provider’s stock worth $6,331,000 after acquiring an additional 1,104 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in LPL Financial in the 3rd quarter valued at $2,633,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in LPL Financial in the third quarter valued at about $14,447,000. Azora Capital LP lifted its stake in shares of LPL Financial by 52.2% during the third quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock worth $149,708,000 after purchasing an additional 220,622 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC acquired a new position in shares of LPL Financial during the third quarter worth about $7,736,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Buying and Selling

In other news, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction 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 transaction, the director now owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock worth $12,562,070 over the last quarter. 1.30% of the stock is owned by company insiders.

LPL Financial Trading Down 2.9 %

Shares of NASDAQ LPLA opened at $327.14 on Tuesday. The stock has a market capitalization of $24.40 billion, a P/E ratio of 23.30, a PEG ratio of 0.94 and a beta of 0.82. The stock’s 50 day moving average price is $351.48 and its two-hundred day moving average price is $313.38. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $384.04.

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 the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial’s dividend payout ratio is presently 8.55%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $277.00 to $413.00 in a report on Thursday, December 19th. Citigroup lifted their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, January 10th. StockNews.com lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. Wells Fargo & Company boosted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. 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. Two investment analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.17.

LPL Financial 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.