Insider Selling: LPL Financial Holdings Inc (LPLA) CEO Sells $603,851.92 in Stock

LPL Financial Holdings Inc (NASDAQ:LPLA) CEO Dan H. Arnold sold 15,428 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $39.14, for a total value of $603,851.92. Following the completion of the transaction, the chief executive officer now directly owns 230,112 shares of the company’s stock, valued at approximately $9,006,583.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

LPL Financial Holdings Inc (NASDAQ:LPLA) opened at 41.03 on Tuesday. The firm has a market cap of $3.66 billion, a PE ratio of 19.26 and a beta of 1.85. LPL Financial Holdings Inc has a 12-month low of $20.51 and a 12-month high of $42.86. The firm has a 50-day moving average price of $39.81 and a 200 day moving average price of $35.68.

LPL Financial Holdings (NASDAQ:LPLA) last released its earnings results on Thursday, February 9th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.10. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. LPL Financial Holdings had a return on equity of 25.39% and a net margin of 4.74%. LPL Financial Holdings’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 earnings per share. Equities research analysts forecast that LPL Financial Holdings Inc will post $2.25 EPS for the current year.

Insider Buying and Selling by Quarter for LPL Financial Holdings (NASDAQ:LPLA)

The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Wednesday, March 8th. LPL Financial Holdings’s dividend payout ratio is currently 46.95%.

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LPLA has been the subject of several recent research reports. Zacks Investment Research cut LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, November 30th. Goldman Sachs Group Inc raised LPL Financial Holdings from a “sell” rating to a “neutral” rating and upped their price target for the company from $34.00 to $40.00 in a report on Tuesday, January 10th. Finally, SunTrust Banks, Inc. upped their price target on LPL Financial Holdings from $39.00 to $42.00 and gave the company a “hold” rating in a report on Friday, February 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company. LPL Financial Holdings currently has a consensus rating of “Hold” and a consensus target price of $33.66.

Several hedge funds have recently added to or reduced their stakes in the stock. Janus Capital Management LLC boosted its stake in LPL Financial Holdings by 4.8% in the fourth quarter. Janus Capital Management LLC now owns 7,957,800 shares of the company’s stock worth $280,194,000 after buying an additional 365,980 shares during the period. Clarkston Capital Partners LLC boosted its stake in LPL Financial Holdings by 3.7% in the third quarter. Clarkston Capital Partners LLC now owns 3,434,585 shares of the company’s stock worth $102,728,000 after buying an additional 122,650 shares during the period. Dimensional Fund Advisors LP boosted its stake in LPL Financial Holdings by 34.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,333,941 shares of the company’s stock worth $46,967,000 after buying an additional 340,209 shares during the period. Norges Bank bought a new stake in LPL Financial Holdings during the fourth quarter worth approximately $42,914,000. Finally, State Street Corp boosted its stake in LPL Financial Holdings by 1.7% in the fourth quarter. State Street Corp now owns 1,184,737 shares of the company’s stock worth $41,715,000 after buying an additional 20,324 shares during the period.

About LPL Financial Holdings

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country.

5 Day Chart for NASDAQ:LPLA

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