Daiwa Securities Group Inc. decreased its holdings in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,066 shares of the financial services provider’s stock after selling 6,770 shares during the period. Daiwa Securities Group Inc. owned about 0.09% of LPL Financial worth $4,890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC lifted its stake in LPL Financial by 66.7% during the fourth quarter. CWM LLC now owns 445 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 178 shares during the period. First Hawaiian Bank bought a new position in LPL Financial during the third quarter worth about $188,000. Contravisory Investment Management Inc. lifted its stake in LPL Financial by 5.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 3,161 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 168 shares during the period. Greenleaf Trust bought a new position in LPL Financial during the third quarter worth about $254,000. Finally, Massachusetts Financial Services Co. MA bought a new position in LPL Financial during the third quarter worth about $259,000. Hedge funds and other institutional investors own 92.04% of the company’s stock.

Shares of LPL Financial stock opened at $77.91 on Tuesday. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market capitalization of $6.65 billion, a P/E ratio of 14.62, a P/E/G ratio of 0.81 and a beta of 1.59. LPL Financial Holdings Inc has a fifty-two week low of $52.03 and a fifty-two week high of $78.29.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, January 31st. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.12. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.36 billion. LPL Financial had a net margin of 8.47% and a return on equity of 46.29%. Equities analysts predict that LPL Financial Holdings Inc will post 6.33 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, March 14th. LPL Financial’s dividend payout ratio is currently 18.76%.

In related news, insider Thomas Gooley sold 43,440 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $74.83, for a total value of $3,250,615.20. Following the completion of the sale, the insider now owns 41,868 shares of the company’s stock, valued at $3,132,982.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Dan H. Arnold sold 36,774 shares of the firm’s stock in a transaction that occurred on Wednesday, January 16th. The shares were sold at an average price of $70.00, for a total transaction of $2,574,180.00. Following the completion of the sale, the chief executive officer now directly owns 269,761 shares of the company’s stock, valued at approximately $18,883,270. The disclosure for this sale can be found here. In the last three months, insiders sold 144,499 shares of company stock valued at $9,867,875. 2.60% of the stock is currently owned by company insiders.

A number of research analysts have commented on the stock. Zacks Investment Research cut shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley set a $70.00 price target on shares of LPL Financial and gave the stock a “hold” rating in a research note on Friday. Credit Suisse Group restated a “buy” rating and set a $91.00 price target on shares of LPL Financial in a research note on Monday, February 4th. Citigroup raised their price target on shares of LPL Financial to $100.00 and gave the stock a “buy” rating in a research note on Friday, February 1st. Finally, BidaskClub upgraded shares of LPL Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 19th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $80.33.

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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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