Gateway Investment Advisers LLC Reduces Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Gateway Investment Advisers LLC lowered its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 26.2% in the 4th quarter, HoldingsChannel reports. 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Argent Capital Management LLC raised its stake in shares of LPL Financial by 23.8% during the 4th quarter. Argent Capital Management LLC now owns 19,147 shares of the financial services provider’s stock valued at $6,252,000 after purchasing an additional 3,682 shares during the period. Park Avenue Securities LLC grew its holdings in LPL Financial by 5.8% during the 4th quarter. Park Avenue Securities LLC now owns 3,849 shares of the financial services provider’s stock valued at $1,257,000 after buying an additional 210 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of LPL Financial by 4.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock valued at $10,190,000 after buying an additional 1,383 shares during the period. Oak Thistle LLC lifted its holdings in shares of LPL Financial by 122.0% in the fourth quarter. Oak Thistle LLC now owns 1,991 shares of the financial services provider’s stock worth $650,000 after buying an additional 1,094 shares in the last quarter. Finally, Quantum Financial Advisors LLC purchased a new position in LPL Financial during the fourth quarter valued at approximately $208,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Up 0.8 %

Shares of NASDAQ:LPLA opened at $348.93 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $350.38. The company has a market cap of $26.13 billion, a P/E ratio of 26.24, a PEG ratio of 1.03 and a beta of 0.87. The stock’s fifty day moving average price is $327.62 and its 200-day moving average price is $267.83.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the firm posted $3.74 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts expect that LPL Financial Holdings Inc. will post 16.07 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders 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 annualized dividend and a dividend yield of 0.34%. LPL Financial’s payout ratio is 9.02%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. JMP Securities restated a “market outperform” rating and set a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. UBS Group raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $390.00 price target for the company in a research note on Monday, January 6th. Morgan Stanley raised their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and increased their target price for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $351.50.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

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 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.