LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 10.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 287,071 shares of the financial services provider’s stock after selling 34,199 shares during the period. Allspring Global Investments Holdings LLC owned about 0.38% of LPL Financial worth $75,844,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of LPL Financial by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock valued at $1,625,446,000 after buying an additional 48,439 shares during the period. Boston Partners boosted its holdings in shares of LPL Financial by 21.5% in the 4th quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock valued at $233,744,000 after buying an additional 181,594 shares during the period. Norges Bank acquired a new position in shares of LPL Financial in the 4th quarter valued at about $200,497,000. TD Asset Management Inc boosted its holdings in shares of LPL Financial by 286.0% in the 4th quarter. TD Asset Management Inc now owns 828,369 shares of the financial services provider’s stock valued at $188,553,000 after buying an additional 613,792 shares during the period. Finally, Eminence Capital LP boosted its holdings in shares of LPL Financial by 14.5% in the 4th quarter. Eminence Capital LP now owns 799,757 shares of the financial services provider’s stock valued at $182,041,000 after buying an additional 101,159 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Price Performance

Shares of NASDAQ LPLA traded up $0.51 during midday trading on Tuesday, reaching $282.61. The company’s stock had a trading volume of 34,717 shares, compared to its average volume of 526,543. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. The company has a 50 day moving average price of $275.34 and a 200 day moving average price of $259.05. LPL Financial Holdings Inc. has a one year low of $200.18 and a one year high of $289.88. The company has a market cap of $21.11 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.44. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.68 billion. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 15.85 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a $0.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.42%. LPL Financial’s payout ratio is currently 9.06%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LPLA. TD Cowen boosted their target price on shares of LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. JMP Securities reissued a “market outperform” rating and set a $305.00 target price on shares of LPL Financial in a research note on Wednesday, May 1st. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. JPMorgan Chase & Co. boosted their target price on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Finally, Barclays boosted their target price on shares of LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $276.20.

Insider Activity

In other news, CEO Dan H. Arnold sold 5,677 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the sale, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

LPL Financial 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.