Annex Advisory Services LLC Decreases Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Annex Advisory Services LLC cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 20.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,351 shares of the financial services provider’s stock after selling 3,255 shares during the period. Annex Advisory Services LLC’s holdings in LPL Financial were worth $4,033,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in LPL Financial in the third quarter valued at $31,000. Paladin Wealth LLC purchased a new position in shares of LPL Financial in the 3rd quarter valued at about $34,000. Brooklyn Investment Group acquired a new stake in shares of LPL Financial during the 3rd quarter worth about $43,000. First Horizon Advisors Inc. raised its position in shares of LPL Financial by 32.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 94 shares in the last quarter. Finally, Quarry LP lifted its stake in LPL Financial by 45.3% during the second quarter. Quarry LP now owns 327 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 102 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Trading Up 0.8 %

Shares of LPLA stock opened at $348.93 on Monday. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $350.38. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The business’s 50 day moving average is $327.62 and its two-hundred day moving average is $267.75. The company has a market capitalization of $26.13 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 1.03 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the company posted $3.74 EPS. LPL Financial’s revenue was up 6.0% compared to the same quarter last year. Equities analysts forecast that LPL Financial Holdings Inc. will post 16.07 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.34%. LPL Financial’s dividend payout ratio is currently 9.02%.

Wall Street Analysts Forecast Growth

LPLA has been the topic of several recent analyst reports. Jefferies Financial Group dropped their price target on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company lifted their price target on shares of LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. JMP Securities restated a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a research note on Wednesday, October 9th. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, Citigroup boosted their target price on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $351.50.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

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.