LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Great Diamond Partners LLC

by · The Markets Daily

Great Diamond Partners LLC reduced its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,406 shares of the financial services provider’s stock after selling 121 shares during the quarter. Great Diamond Partners LLC’s holdings in LPL Financial were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP increased its stake in shares of LPL Financial by 42.9% during the 3rd quarter. Hudson Bay Capital Management LP now owns 50,000 shares of the financial services provider’s stock valued at $11,882,000 after acquiring an additional 15,000 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in LPL Financial by 15.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 34,863 shares of the financial services provider’s stock valued at $7,965,000 after purchasing an additional 4,686 shares during the period. NewEdge Wealth LLC increased its position in LPL Financial by 228.6% during the fourth quarter. NewEdge Wealth LLC now owns 55,827 shares of the financial services provider’s stock worth $12,707,000 after purchasing an additional 38,839 shares during the last quarter. Reinhart Partners LLC. raised its stake in LPL Financial by 6.2% during the fourth quarter. Reinhart Partners LLC. now owns 74,620 shares of the financial services provider’s stock worth $16,985,000 after purchasing an additional 4,333 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of LPL Financial by 3.6% in the 4th quarter. Nordea Investment Management AB now owns 5,629 shares of the financial services provider’s stock valued at $1,287,000 after purchasing an additional 198 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Price Performance

Shares of LPLA stock opened at $268.64 on Friday. LPL Financial Holdings Inc. has a twelve month low of $186.35 and a twelve month high of $276.12. 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 company has a market capitalization of $20.07 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.07 and a beta of 0.83. The firm has a fifty day simple moving average of $264.98 and a 200-day simple moving average of $244.75.

LPL Financial Dividend Announcement

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 paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is 9.06%.

Insider Activity at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the transaction, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Dan H. Arnold sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the sale, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Dan H. Arnold sold 34,807 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 141,810 shares in the company, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,151 shares of company stock valued at $15,911,088. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $254.00 to $315.00 in a report on Tuesday, April 9th. UBS Group raised their price objective on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. JMP Securities reiterated a “market outperform” rating and set a $305.00 target price on shares of LPL Financial in a report on Wednesday, May 1st. Raymond James assumed coverage on shares of LPL Financial in a report on Thursday, April 4th. They issued an “underperform” rating on the stock. Finally, Barclays boosted their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $276.20.

Get Our Latest Report on LPLA

LPL Financial Profile

(Free Report)

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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