Pzena Investment Management LLC Has $270,000 Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Pzena Investment Management LLC reduced its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,187 shares of the financial services provider’s stock after selling 90 shares during the period. Pzena Investment Management LLC’s holdings in LPL Financial were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC increased its stake in LPL Financial by 9.9% in the 3rd quarter. V Square Quantitative Management LLC now owns 522 shares of the financial services provider’s stock valued at $124,000 after buying an additional 47 shares during the last quarter. Covestor Ltd increased its stake in shares of LPL Financial by 13.6% during the 3rd quarter. Covestor Ltd now owns 417 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 50 shares during the last quarter. CWM LLC increased its stake in shares of LPL Financial by 6.0% during the 4th quarter. CWM LLC now owns 985 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 56 shares during the last quarter. Lido Advisors LLC increased its stake in shares of LPL Financial by 3.6% during the 3rd quarter. Lido Advisors LLC now owns 1,863 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 64 shares during the last quarter. Finally, Sanchez Wealth Management Group increased its stake in shares of LPL Financial by 4.1% during the 4th quarter. Sanchez Wealth Management Group now owns 1,645 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 65 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Performance

NASDAQ LPLA traded up $3.31 during trading on Thursday, reaching $275.98. The company’s stock had a trading volume of 124,735 shares, compared to its average volume of 524,183. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $20.62 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. LPL Financial Holdings Inc. has a 12 month low of $190.13 and a 12 month high of $277.05. The firm has a 50 day moving average price of $265.52 and a 200 day moving average price of $247.45.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.44. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.68 billion. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. As a group, equities analysts anticipate that LPL Financial Holdings Inc. will post 15.86 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, May 20th. LPL Financial’s dividend payout ratio is currently 9.06%.

Insider Transactions at LPL Financial

In other news, CEO Dan H. Arnold sold 7,089 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $265.66, for a total transaction of $1,883,263.74. Following the completion of the sale, the chief executive officer now owns 133,169 shares of the company’s stock, valued at approximately $35,377,676.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Dan H. Arnold sold 34,807 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the completion of the sale, the chief executive officer now owns 141,810 shares of the company’s stock, valued at approximately $37,798,037.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 7,089 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $265.66, for a total transaction of $1,883,263.74. Following the sale, the chief executive officer now directly owns 133,169 shares of the company’s stock, valued at approximately $35,377,676.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,770 shares of company stock valued at $12,992,754. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

LPLA has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. JMP Securities restated a “market outperform” rating and set a $305.00 price objective on shares of LPL Financial in a research note on Wednesday, May 1st. UBS Group boosted their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. TD Cowen lifted their target price on shares of LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Barclays lifted their target price on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $276.20.

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.