Victory Capital Management Inc. Sells 85,732 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Victory Capital Management Inc. lessened its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 71.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,223 shares of the financial services provider’s stock after selling 85,732 shares during the quarter. Victory Capital Management Inc.’s holdings in LPL Financial were worth $11,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in LPL Financial by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider’s stock worth $109,625,000 after purchasing an additional 13,936 shares in the last quarter. Schechter Investment Advisors LLC grew its position in LPL Financial by 149.6% during the 4th quarter. Schechter Investment Advisors LLC now owns 2,761 shares of the financial services provider’s stock worth $901,000 after acquiring an additional 1,655 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in LPL Financial during the 4th quarter worth approximately $221,000. Jones Financial Companies Lllp lifted its holdings in LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after buying an additional 43 shares during the period. Finally, Norden Group LLC purchased a new stake in LPL Financial in the 4th quarter worth approximately $209,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA stock opened at $308.87 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a 50 day moving average price of $352.96 and a 200 day moving average price of $302.43. The firm has a market capitalization of $23.07 billion, a P/E ratio of 22.00, a P/E/G ratio of 0.94 and a beta of 0.82. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $384.04.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share 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%. As a group, sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.39%. LPL Financial’s payout ratio is presently 8.55%.

Analysts Set New Price Targets

LPLA has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. Citigroup lifted 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. Finally, UBS Group lifted their target price on LPL Financial from $390.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and a consensus target price of $379.17.

Insider Activity

In related news, CFO Matthew J. Audette sold 28,777 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the transaction, the chief financial officer now owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now directly owns 4,075 shares of the company’s stock, valued at $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock valued at $12,562,070 in the last quarter. 1.00% of the stock is currently 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.