LPL Financial Holdings Inc. $LPLA Stake Lowered by Heron Bay Capital Management

Heron Bay Capital Management trimmed its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,777 shares of the financial services provider’s stock after selling 2,738 shares during the period. LPL Financial comprises about 4.9% of Heron Bay Capital Management’s portfolio, making the stock its 4th largest position. Heron Bay Capital Management owned approximately 0.10% of LPL Financial worth $26,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Osterweis Capital Management Inc. bought a new stake in LPL Financial during the 2nd quarter valued at $26,000. SJS Investment Consulting Inc. raised its holdings in LPL Financial by 912.5% in the third quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 73 shares in the last quarter. Chung Wu Investment Group LLC purchased a new stake in shares of LPL Financial during the third quarter valued at about $27,000. Eastern Bank grew its position in shares of LPL Financial by 72.0% in the 3rd quarter. Eastern Bank now owns 86 shares of the financial services provider’s stock worth $29,000 after buying an additional 36 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of LPL Financial by 116.2% during the 2nd quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 43 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Matthew J. Audette sold 1,581 shares of LPL Financial stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $320.50, for a total transaction of $506,710.50. Following the completion of the transaction, the chief financial officer directly owned 21,382 shares of the company’s stock, valued at $6,852,931. The trade was a 6.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Enyedi sold 2,109 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $320.15, for a total transaction of $675,196.35. Following the completion of the transaction, the director owned 14,121 shares of the company’s stock, valued at approximately $4,520,838.15. This represents a 12.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.30% of the stock is owned by company insiders.

LPL Financial Price Performance

NASDAQ:LPLA opened at $316.92 on Friday. The firm’s fifty day moving average is $352.59 and its two-hundred day moving average is $352.00. The firm has a market cap of $25.38 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 0.69 and a beta of 0.59. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.45 and a current ratio of 2.45. LPL Financial Holdings Inc. has a one year low of $262.83 and a one year high of $403.58.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $5.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.82 by $0.41. LPL Financial had a return on equity of 34.19% and a net margin of 5.08%.The business had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the firm posted $4.25 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, March 10th. LPL Financial’s dividend payout ratio is currently 10.90%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LPLA shares. Barclays cut their price target on shares of LPL Financial from $444.00 to $434.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. TD Cowen lowered their price objective on LPL Financial from $399.00 to $378.00 and set a “hold” rating for the company in a research report on Friday, January 30th. Jefferies Financial Group upped their target price on LPL Financial from $426.00 to $440.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Morgan Stanley cut their price objective on shares of LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a report on Monday, December 22nd. Finally, Citigroup restated a “market outperform” rating on shares of LPL Financial in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $428.71.

LPL Financial Company 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.