Westfield Capital Management Co. LP Sells 170,235 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Westfield Capital Management Co. LP decreased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 28.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 428,869 shares of the financial services provider’s stock after selling 170,235 shares during the period. Westfield Capital Management Co. LP’s holdings in LPL Financial were worth $97,619,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in shares of LPL Financial during the 4th quarter valued at about $25,000. Smithfield Trust Co boosted its position in shares of LPL Financial by 164.4% during the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 74 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of LPL Financial during the 4th quarter valued at about $30,000. Gladius Capital Management LP bought a new stake in shares of LPL Financial during the 4th quarter valued at about $30,000. Finally, American National Bank acquired a new position in LPL Financial during the 4th quarter worth approximately $32,000. Institutional investors own 95.66% of the company’s stock.

Insider Activity at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the 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 directly owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other LPL Financial news, CFO Matthew J. Audette sold 5,574 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.52, for a total transaction of $1,485,582.48. Following the completion of the transaction, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at $3,641,462.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dan H. Arnold sold 34,807 shares of the firm’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 of the company’s stock, valued at $37,798,037.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,681 shares of company stock valued at $11,109,490. 1.30% of the stock is owned by insiders.

LPL Financial Stock Up 3.6 %

Shares of LPL Financial stock traded up $9.91 on Friday, hitting $284.40. The company had a trading volume of 656,920 shares, compared to its average volume of 523,752. The stock has a market capitalization of $21.25 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.13 and a beta of 0.83. LPL Financial Holdings Inc. has a 1 year low of $190.13 and a 1 year high of $284.61. The stock has a 50 day moving average of $266.05 and a 200-day moving average of $248.08. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.44. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 15.85 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, May 20th. LPL Financial’s payout ratio is 9.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LPLA shares. JPMorgan Chase & Co. upped their price target on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $305.00 price target on shares of LPL Financial in a research note on Wednesday, May 1st. TD Cowen upped their price target on LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Morgan Stanley raised LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. Finally, Raymond James began coverage on LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $276.20.

About 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.