LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Foresight Global Investors Inc.

Foresight Global Investors Inc. cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 23.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,549 shares of the financial services provider’s stock after selling 1,671 shares during the period. LPL Financial makes up 0.7% of Foresight Global Investors Inc.’s holdings, making the stock its 24th biggest holding. Foresight Global Investors Inc.’s holdings in LPL Financial were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in LPLA. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of LPL Financial by 3.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,145,780 shares of the financial services provider’s stock valued at $509,945,000 after purchasing an additional 79,869 shares during the period. Massachusetts Financial Services Co. MA grew its stake in LPL Financial by 1,732.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 568,292 shares of the financial services provider’s stock worth $135,055,000 after purchasing an additional 537,272 shares in the last quarter. American Century Companies Inc. increased its holdings in LPL Financial by 6.6% during the 3rd quarter. American Century Companies Inc. now owns 567,856 shares of the financial services provider’s stock worth $134,951,000 after purchasing an additional 35,088 shares during the period. Northern Trust Corp raised its position in LPL Financial by 6.7% in the 3rd quarter. Northern Trust Corp now owns 498,405 shares of the financial services provider’s stock valued at $118,446,000 after purchasing an additional 31,402 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of LPL Financial by 358.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 456,990 shares of the financial services provider’s stock valued at $108,604,000 after buying an additional 357,245 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. UBS Group upped their target price on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. TD Cowen upped their price objective on shares of LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Finally, JMP Securities reiterated a “market outperform” rating and set a $305.00 target price on shares of LPL Financial in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $276.20.

LPL Financial Price Performance

Shares of LPLA traded down $2.21 on Thursday, reaching $264.82. The stock had a trading volume of 393,244 shares, compared to its average volume of 538,380. The firm has a 50-day moving average of $264.99 and a 200 day moving average of $244.09. The firm has a market capitalization of $19.78 billion, a PE ratio of 20.11, a PEG ratio of 1.08 and a beta of 0.83. LPL Financial Holdings Inc. has a twelve month low of $186.35 and a twelve month high of $276.12. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Insider Buying and Selling

In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total value of $9,277,457.78. Following the completion of the transaction, the chief executive officer now directly owns 141,810 shares in the company, valued at approximately $37,798,037.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Matthew Enyedi sold 1,381 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the transaction, the director now directly owns 8,634 shares in the company, valued at $2,218,419.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dan H. Arnold sold 34,807 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the completion of the transaction, the chief executive officer now owns 141,810 shares in the company, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. Insiders have sold 60,151 shares of company stock worth $15,911,088 in the last three months. Corporate insiders own 1.00% of the company’s stock.

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.