HighPoint Advisor Group LLC Decreases Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

HighPoint Advisor Group LLC reduced its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,147 shares of the financial services provider’s stock after selling 352 shares during the period. HighPoint Advisor Group LLC’s holdings in LPL Financial were worth $778,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LPLA. Rockefeller Capital Management L.P. bought a new position in shares of LPL Financial during the third quarter valued at approximately $2,633,000. Principal Financial Group Inc. boosted its position in shares of LPL Financial by 15.7% during the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock valued at $5,913,000 after purchasing an additional 3,444 shares in the last quarter. Truist Financial Corp boosted its position in shares of LPL Financial by 7.9% during the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider’s stock valued at $62,740,000 after purchasing an additional 14,106 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in LPL Financial by 4.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock worth $10,190,000 after purchasing an additional 1,383 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in LPL Financial by 4.3% in the fourth 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. 95.66% of the stock is owned by institutional investors.

LPL Financial Trading Up 2.3 %

LPL Financial stock opened at $334.82 on Wednesday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. The business’s fifty day moving average is $351.17 and its 200 day moving average is $314.29. The stock has a market capitalization of $24.97 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

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

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Analyst Ratings Changes

LPLA has been the topic of a number of recent research reports. Citigroup upped their target price on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. JMP Securities restated a “market outperform” rating and issued a $435.00 price objective on shares of LPL Financial in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. UBS Group upped their price target 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, StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, LPL Financial presently has an average rating of “Moderate Buy” and an average target price of $379.17.

Insider Activity

In related news, 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 transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now directly owns 16,538 shares in the company, valued at approximately $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,465 shares of company stock valued at $12,562,070 in the last ninety days. 1.30% 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.