PNC Financial Services Group Inc. Sells 301 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

PNC Financial Services Group Inc. reduced its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 10.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,527 shares of the financial services provider’s stock after selling 301 shares during the quarter. PNC Financial Services Group Inc.’s holdings in LPL Financial were worth $575,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Oliver Luxxe Assets LLC lifted its position in LPL Financial by 0.6% in the 4th quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock valued at $1,856,000 after acquiring an additional 48 shares in the last quarter. CWM LLC lifted its position in LPL Financial by 6.0% in the 4th quarter. CWM LLC now owns 985 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 56 shares in the last quarter. Lido Advisors LLC increased its stake in LPL Financial by 3.6% in the 3rd quarter. Lido Advisors LLC now owns 1,863 shares of the financial services provider’s stock valued at $443,000 after buying an additional 64 shares during the last quarter. Sanchez Wealth Management Group increased its stake in LPL Financial by 4.1% in the 4th quarter. Sanchez Wealth Management Group now owns 1,645 shares of the financial services provider’s stock valued at $374,000 after buying an additional 65 shares during the last quarter. Finally, Financial Advocates Investment Management increased its stake in LPL Financial by 1.8% in the 4th quarter. Financial Advocates Investment Management now owns 5,393 shares of the financial services provider’s stock valued at $1,227,000 after buying an additional 93 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Down 0.4 %

Shares of LPLA opened at $274.90 on Thursday. LPL Financial Holdings Inc. has a 52 week low of $200.18 and a 52 week high of $289.88. The firm has a market cap of $20.54 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 1.10 and a beta of 0.89. The firm’s 50-day simple moving average is $274.32 and its 200 day simple moving average is $257.55. 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 announced 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. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.68 billion. On average, analysts forecast that LPL Financial Holdings Inc. will post 15.85 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a yield of 0.44%. LPL Financial’s dividend payout ratio (DPR) is currently 9.06%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays lifted their price target on shares of LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. JMP Securities reiterated a “market outperform” rating and issued a $305.00 price target on shares of LPL Financial in a research note on Wednesday, May 1st. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. Raymond James assumed coverage on shares of LPL Financial in a research note on Thursday, April 4th. They issued an “underperform” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. One 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $276.20.

Insider Activity at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the completion of the sale, the chief executive officer now owns 142,608 shares of the company’s stock, valued at approximately $39,546,624.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

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.