Prospera Financial Services Inc Purchases New Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Prospera Financial Services Inc purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating) during the first quarter, according to its most recent filing with the SEC. The firm purchased 1,216 shares of the financial services provider’s stock, valued at approximately $222,000.

A number of other hedge funds have also modified their holdings of the company. Advisor Group Holdings Inc. increased its stake in LPL Financial by 5.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 29,953 shares of the financial services provider’s stock worth $4,799,000 after purchasing an additional 1,448 shares in the last quarter. XML Financial LLC bought a new stake in LPL Financial during the 1st quarter worth approximately $215,000. Atria Investments LLC increased its stake in LPL Financial by 9.7% during the 4th quarter. Atria Investments LLC now owns 10,623 shares of the financial services provider’s stock worth $1,701,000 after purchasing an additional 936 shares in the last quarter. Victory Capital Management Inc. increased its stake in LPL Financial by 5.7% during the 4th quarter. Victory Capital Management Inc. now owns 981,643 shares of the financial services provider’s stock worth $157,151,000 after purchasing an additional 52,996 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in LPL Financial by 3.6% during the 4th quarter. HighTower Advisors LLC now owns 1,683 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 58 shares in the last quarter. 96.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other LPL Financial news, CEO Dan H. Arnold sold 39,015 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $210.33, for a total transaction of $8,206,024.95. Following the completion of the sale, the chief executive officer now owns 162,608 shares of the company’s stock, valued at approximately $34,201,340.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other LPL Financial news, CEO Dan H. Arnold sold 39,015 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $210.33, for a total transaction of $8,206,024.95. Following the completion of the sale, the chief executive officer now owns 162,608 shares of the company’s stock, valued at approximately $34,201,340.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michelle Oroschakoff sold 15,724 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 42,068 shares of the company’s stock, valued at approximately $7,245,371.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,247 shares of company stock valued at $14,822,792. 1.60% of the stock is owned by insiders.

LPL Financial Trading Up 2.8 %

NASDAQ LPLA opened at $217.06 on Thursday. The company has a market cap of $17.36 billion, a PE ratio of 38.21, a PEG ratio of 0.53 and a beta of 0.96. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 1.57. LPL Financial Holdings Inc. has a 12 month low of $135.04 and a 12 month high of $220.80. The stock has a 50 day moving average of $190.63 and a 200-day moving average of $184.16.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Thursday, June 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Wednesday, June 8th. LPL Financial’s payout ratio is presently 17.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a research note on Monday, May 2nd. Morgan Stanley decreased their price target on shares of LPL Financial from $241.00 to $239.00 and set an “overweight” rating for the company in a research note on Wednesday. Truist Financial raised their price target on shares of LPL Financial from $200.00 to $230.00 in a research note on Tuesday, May 3rd. JMP Securities raised shares of LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 price target for the company in a research note on Thursday, April 7th. Finally, Citigroup raised their price target 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $226.33.

About LPL Financial

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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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