LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,802 shares of the financial services provider’s stock after selling 607 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in LPL Financial were worth $3,854,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Daiwa Securities Group Inc. grew its position in LPL Financial by 50.6% in the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock worth $3,685,000 after buying an additional 5,320 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of LPL Financial in the 3rd quarter worth $2,633,000. Truist Financial Corp raised 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 worth $62,740,000 after purchasing an additional 14,106 shares during the period. Principal Financial Group Inc. raised 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 worth $5,913,000 after purchasing an additional 3,444 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of LPL Financial by 4.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock valued at $10,190,000 after purchasing an additional 1,383 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Matthew J. Audette sold 28,777 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of LPL Financial stock in a transaction 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. This trade represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,465 shares of company stock valued at $12,562,070. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup raised their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, StockNews.com downgraded LPL Financial from a “hold” rating to a “sell” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $379.17.

LPL Financial Trading Down 0.6 %

Shares of NASDAQ LPLA opened at $326.30 on Wednesday. The stock has a market cap of $24.37 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 0.94 and a beta of 0.82. The business has a 50 day simple moving average of $352.00 and a 200 day simple moving average of $305.72. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

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.