Mutual of America Capital Management LLC Sells 1,462 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mutual of America Capital Management LLC lowered its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 33.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,926 shares of the financial services provider’s stock after selling 1,462 shares during the period. Mutual of America Capital Management LLC’s holdings in LPL Financial were worth $955,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after purchasing an additional 650,675 shares during the last quarter. Geode Capital Management LLC lifted its stake in LPL Financial by 2.6% in the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock valued at $333,581,000 after buying an additional 36,474 shares during the period. JPMorgan Chase & Co. raised its position in shares of LPL Financial by 27.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after acquiring an additional 276,166 shares during the period. Southpoint Capital Advisors LP grew its holdings in LPL Financial by 50.0% during the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock valued at $174,472,000 after purchasing an additional 250,000 shares during the period. Finally, Westfield Capital Management Co. LP increased its position in shares of LPL Financial by 21.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 710,867 shares of the financial services provider’s stock valued at $165,369,000 after buying an additional 126,266 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

Insider Activity

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,465 shares of company stock valued at $12,562,070. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LPLA. JPMorgan Chase & Co. lifted their price target on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup increased their price objective on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Morgan Stanley increased their target price on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. UBS Group upped their price objective on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, JMP Securities reissued a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Trading Down 0.9 %

Shares of LPL Financial stock opened at $333.90 on Monday. The firm’s 50-day moving average price is $353.69 and its two-hundred day moving average price is $301.03. The company has a market capitalization of $24.94 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 0.94 and a beta of 0.82. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s dividend payout ratio is currently 8.55%.

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.