Focus Partners Advisor Solutions LLC Sells 43,940 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Focus Partners Advisor Solutions LLC decreased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 29.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 104,529 shares of the financial services provider’s stock after selling 43,940 shares during the period. LPL Financial comprises 0.6% of Focus Partners Advisor Solutions LLC’s investment portfolio, making the stock its 29th largest position. Focus Partners Advisor Solutions LLC’s holdings in LPL Financial were worth $34,130,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after buying an additional 276,166 shares during the period. Merit Financial Group LLC boosted its stake in shares of LPL Financial by 4.6% during the 4th quarter. Merit Financial Group LLC now owns 1,132 shares of the financial services provider’s stock worth $370,000 after acquiring an additional 50 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in shares of LPL Financial during the 4th quarter worth $277,000. HB Wealth Management LLC grew its position in shares of LPL Financial by 34.0% during the 4th quarter. HB Wealth Management LLC now owns 1,304 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 331 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of LPL Financial by 9,865.1% in the 4th quarter. UMB Bank n.a. now owns 14,848 shares of the financial services provider’s stock worth $4,848,000 after purchasing an additional 14,699 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Trading Down 0.3%

NASDAQ LPLA opened at $384.20 on Wednesday. The stock has a market cap of $30.73 billion, a P/E ratio of 27.36, a P/E/G ratio of 0.94 and a beta of 0.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $390.23. The company has a fifty day simple moving average of $328.88 and a two-hundred day simple moving average of $334.94.

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

LPL Financial Announces Dividend

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

Insider Buying and Selling at LPL Financial

In other news, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial 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 transaction, the director now directly owns 4,075 shares of the company’s stock, valued at $1,490,838.75. The trade was a 21.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the transaction, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at $5,954,837.66. The trade was a 21.72% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of several recent research reports. StockNews.com lowered LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Company cut their price objective on LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Barclays increased their target price on shares of LPL Financial from $365.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Morgan Stanley lifted their price target on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Citigroup dropped their price target on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $374.42.

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.