Nuveen Asset Management LLC Has $61.68 Million Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Nuveen Asset Management LLC trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 20.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,913 shares of the financial services provider’s stock after selling 47,971 shares during the period. Nuveen Asset Management LLC owned about 0.25% of LPL Financial worth $61,682,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of LPL Financial during the fourth quarter worth about $305,747,000. Raymond James Financial Inc. acquired a new position in shares of LPL Financial during the fourth quarter worth about $295,982,000. Boston Partners boosted its position in shares of LPL Financial by 26.0% during the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider’s stock worth $1,278,454,000 after buying an additional 805,637 shares during the period. Janus Henderson Group PLC boosted its position in shares of LPL Financial by 20.6% during the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider’s stock worth $996,032,000 after buying an additional 522,032 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in shares of LPL Financial during the fourth quarter worth about $153,946,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LPLA shares. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Barclays upped their target price on LPL Financial from $365.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. UBS Group upped their target price on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Morgan Stanley upped their target price on LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, JMP Securities upped their target price on LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a report on Friday, May 9th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $374.42.

LPL Financial Price Performance

NASDAQ:LPLA opened at $384.61 on Monday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock’s 50 day moving average price is $326.05 and its two-hundred day moving average price is $333.86. The firm has a market capitalization of $30.76 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $390.23.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.61. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.83 earnings per share. On average, analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 0.31%. LPL Financial’s dividend payout ratio is 8.30%.

Insider Buying and Selling at LPL Financial

In other news, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the transaction, the director now 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 disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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.