1,233 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Purchased by National Asset Management Inc.

National Asset Management Inc. acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,233 shares of the financial services provider’s stock, valued at approximately $227,000.

Several other hedge funds have also bought and sold shares of LPLA. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of LPL Financial by 6.3% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,440,941 shares of the financial services provider’s stock worth $390,772,000 after buying an additional 143,585 shares in the last quarter. Invesco Ltd. lifted its stake in shares of LPL Financial by 5.7% in the fourth quarter. Invesco Ltd. now owns 2,034,983 shares of the financial services provider’s stock worth $325,781,000 after buying an additional 109,266 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in shares of LPL Financial by 2.5% in the fourth quarter. Eagle Asset Management Inc. now owns 1,986,903 shares of the financial services provider’s stock worth $321,619,000 after buying an additional 49,308 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of LPL Financial by 313.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,325,082 shares of the financial services provider’s stock worth $212,133,000 after buying an additional 1,004,582 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of LPL Financial by 17.2% in the fourth quarter. American Century Companies Inc. now owns 1,234,276 shares of the financial services provider’s stock worth $197,595,000 after buying an additional 181,478 shares in the last quarter. Institutional investors own 96.06% of the company’s stock.

LPL Financial Stock Up 3.1 %

Shares of LPLA stock opened at $209.92 on Monday. LPL Financial Holdings Inc. has a 12 month low of $134.97 and a 12 month high of $220.80. The stock has a market cap of $16.79 billion, a P/E ratio of 36.96, a P/E/G ratio of 0.50 and a beta of 0.95. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 1.57. The company has a 50 day simple moving average of $189.04 and a two-hundred day simple moving average of $183.52.

LPL Financial (NASDAQ:LPLAGet Rating) last announced its earnings results on Thursday, April 28th. The financial services provider reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.16. LPL Financial had a net margin of 5.74% and a return on equity of 35.82%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the prior year, the company earned $1.77 earnings per share. The firm’s revenue was up 21.0% on a year-over-year basis. On average, research analysts expect that LPL Financial Holdings Inc. will post 10 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Thursday, June 9th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, June 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.48%. LPL Financial’s dividend payout ratio is currently 17.61%.

Insiders Place Their Bets

In other LPL Financial news, CEO Dan H. Arnold sold 19,508 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $200.36, for a total value of $3,908,622.88. Following the completion of the transaction, the chief executive officer now directly owns 162,608 shares in the company, valued at $32,580,138.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other LPL Financial news, Director Michelle Oroschakoff sold 15,724 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $172.23, for a total value of $2,708,144.52. Following the completion of the transaction, the director now directly owns 42,068 shares in the company, valued at $7,245,371.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Dan H. Arnold sold 19,508 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $200.36, for a total transaction of $3,908,622.88. Following the completion of the transaction, the chief executive officer now owns 162,608 shares of the company’s stock, valued at $32,580,138.88. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LPLA shares. Citigroup upped their target price on shares of LPL Financial from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, April 14th. Truist Financial boosted their price objective on shares of LPL Financial from $200.00 to $230.00 in a report on Tuesday, May 3rd. Morgan Stanley decreased their price objective on shares of LPL Financial from $246.00 to $241.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. JMP Securities raised shares of LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 price objective for the company in a report on Thursday, April 7th. Finally, StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $226.67.

LPL Financial Profile

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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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