Gateway Investment Advisers LLC reduced its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 26.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,871 shares of the financial services provider's stock after selling 1,019 shares during the quarter. Gateway Investment Advisers LLC's holdings in LPL Financial were worth $937,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in LPL Financial during the 3rd quarter worth about $31,000. Paladin Wealth LLC acquired a new stake in LPL Financial during the third quarter worth approximately $34,000. Brooklyn Investment Group bought a new stake in LPL Financial in the third quarter worth approximately $43,000. First Horizon Advisors Inc. lifted its stake in LPL Financial by 32.3% in the third quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider's stock valued at $90,000 after buying an additional 94 shares during the period. Finally, Quarry LP lifted its stake in LPL Financial by 45.3% in the second quarter. Quarry LP now owns 327 shares of the financial services provider's stock valued at $91,000 after buying an additional 102 shares during the period. 95.66% of the stock is currently owned by institutional investors.
NASDAQ:LPLA traded up $2.72 during trading hours on Friday, hitting $348.93. 445,040 shares of the company traded hands, compared to its average volume of 390,708. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $350.38. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market cap of $26.13 billion, a PE ratio of 26.24, a PEG ratio of 1.03 and a beta of 0.87. The firm's 50-day simple moving average is $327.62 and its 200-day simple moving average is $267.83.
LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.47. The business had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.74 earnings per share. Equities analysts predict that LPL Financial Holdings Inc. will post 16.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.34%. LPL Financial's dividend payout ratio (DPR) is presently 9.02%.
In other news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company's stock.
Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of LPL Financial from a "sell" rating to a "hold" rating in a research note on Saturday, November 9th. Wells Fargo & Company lifted their price target on shares of LPL Financial from $310.00 to $390.00 and gave the company an "overweight" rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised shares of LPL Financial from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $288.00 to $397.00 in a research report on Tuesday, January 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. Finally, Citigroup increased their price target on LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $351.50.
Check Out Our Latest Analysis on LPL Financial
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.
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