Reinhart Partners LLC. Has $9.37 Million Stock Holdings in LPL Financial Holdings Inc. $LPLA

Reinhart Partners LLC. lowered its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 28,165 shares of the financial services provider’s stock after selling 1,551 shares during the quarter. Reinhart Partners LLC.’s holdings in LPL Financial were worth $9,370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. NewEdge Advisors LLC grew its position in shares of LPL Financial by 42.7% during the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock valued at $1,153,000 after acquiring an additional 1,055 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of LPL Financial by 0.5% during the first quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock worth $68,414,000 after purchasing an additional 1,089 shares in the last quarter. Woodline Partners LP purchased a new position in shares of LPL Financial in the 1st quarter worth about $1,636,000. Focus Partners Wealth lifted its stake in LPL Financial by 12.2% in the first quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock worth $1,426,000 after purchasing an additional 473 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in LPL Financial in the 1st quarter worth $121,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LPLA. BMO Capital Markets initiated coverage on LPL Financial in a research note on Friday, October 3rd. They issued an “outperform” rating and a $365.00 price target on the stock. Raymond James Financial upgraded shares of LPL Financial from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. cut their price target on shares of LPL Financial from $440.00 to $433.00 and set an “overweight” rating on the stock in a report on Tuesday. Citizens Jmp boosted their price objective on shares of LPL Financial from $455.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, October 31st. Finally, Citigroup reissued an “outperform” rating on shares of LPL Financial in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $429.07.

Insider Activity at LPL Financial

In other LPL Financial news, Director Greg Gates sold 750 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $370.97, for a total value of $278,227.50. Following the transaction, the director owned 14,620 shares of the company’s stock, valued at approximately $5,423,581.40. This represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Steinmeier sold 5,058 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $370.99, for a total value of $1,876,467.42. Following the completion of the transaction, the chief executive officer directly owned 9,326 shares in the company, valued at $3,459,852.74. The trade was a 35.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 7,388 shares of company stock worth $2,747,538. 1.30% of the stock is owned by insiders.

LPL Financial Stock Up 0.5%

LPLA opened at $378.62 on Friday. The stock has a market capitalization of $30.30 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 0.81 and a beta of 0.57. The firm has a 50 day moving average price of $365.40 and a 200-day moving average price of $359.13. LPL Financial Holdings Inc. has a twelve month low of $262.83 and a twelve month high of $403.58. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. The business had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The firm’s revenue was up 46.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.16 EPS. Equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Thursday, November 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial’s payout ratio is presently 11.05%.

LPL Financial Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.