LPL Financial Holdings Inc (LPLA) Position Decreased by Highland Capital Management LP
Highland Capital Management LP decreased its stake in LPL Financial Holdings Inc (NASDAQ:LPLA) by 8.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 160,000 shares of the financial services provider’s stock after selling 14,500 shares during the quarter. Highland Capital Management LP’s holdings in LPL Financial were worth $9,771,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC boosted its position in LPL Financial by 247.0% during the 1st quarter. Frontier Capital Management Co. LLC now owns 1,743,342 shares of the financial services provider’s stock worth $106,466,000 after acquiring an additional 1,240,990 shares during the period. Bank of New York Mellon Corp boosted its position in LPL Financial by 140.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,258,579 shares of the financial services provider’s stock worth $71,917,000 after acquiring an additional 735,256 shares during the period. Westfield Capital Management Co. LP acquired a new stake in LPL Financial during the 1st quarter worth about $43,322,000. Arrowstreet Capital Limited Partnership boosted its position in LPL Financial by 947.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 438,378 shares of the financial services provider’s stock worth $25,049,000 after acquiring an additional 396,533 shares during the period. Finally, Renaissance Technologies LLC boosted its position in LPL Financial by 219.8% during the 4th quarter. Renaissance Technologies LLC now owns 543,100 shares of the financial services provider’s stock worth $31,033,000 after acquiring an additional 373,300 shares during the period. Institutional investors and hedge funds own 93.48% of the company’s stock.
LPLA opened at $70.49 on Thursday. LPL Financial Holdings Inc has a fifty-two week low of $40.26 and a fifty-two week high of $73.28. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $6.29 billion, a PE ratio of 23.50, a PEG ratio of 0.96 and a beta of 1.63.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Friday, May 18th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Thursday, May 17th. LPL Financial’s payout ratio is 33.33%.
In related news, Director Michelle Oroschakoff sold 6,050 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $69.58, for a total value of $420,959.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Tracy Calder sold 7,388 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $64.54, for a total value of $476,821.52. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.
A number of equities research analysts have commented on LPLA shares. BidaskClub upgraded LPL Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. Morgan Stanley raised their price target on LPL Financial from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 30th. ValuEngine downgraded LPL Financial from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Zacks Investment Research downgraded LPL Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating on shares of LPL Financial in a research note on Thursday, May 31st. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. LPL Financial presently has a consensus rating of “Buy” and an average target price of $77.73.
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 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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