Amalgamated Bank Boosts Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Amalgamated Bank raised its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating) by 8.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,455 shares of the financial services provider’s stock after buying an additional 1,456 shares during the quarter. Amalgamated Bank’s holdings in LPL Financial were worth $3,371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. HighTower Advisors LLC lifted its stake in shares of LPL Financial by 3.6% in the 4th quarter. HighTower Advisors LLC now owns 1,683 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 58 shares in the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of LPL Financial in the 4th quarter valued at about $2,752,000. Alberta Investment Management Corp acquired a new position in shares of LPL Financial in the 4th quarter valued at about $1,601,000. Nuveen Asset Management LLC lifted its stake in shares of LPL Financial by 18.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,144,537 shares of the financial services provider’s stock valued at $183,229,000 after purchasing an additional 175,848 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of LPL Financial by 5.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 265,897 shares of the financial services provider’s stock valued at $42,568,000 after purchasing an additional 13,503 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. UBS Group boosted their price target on LPL Financial from $212.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Morgan Stanley reduced their price target on LPL Financial from $241.00 to $239.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 3rd. Finally, StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, LPL Financial has an average rating of “Moderate Buy” and a consensus target price of $235.83.

LPL Financial Stock Performance

Shares of LPLA opened at $229.65 on Friday. The business’s 50 day moving average is $218.19 and its two-hundred day moving average is $197.18. LPL Financial Holdings Inc. has a 52-week low of $140.65 and a 52-week high of $236.58. The firm has a market cap of $18.32 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 0.59 and a beta of 0.94. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.48.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Tuesday, August 16th. LPL Financial’s payout ratio is 16.16%.

Insider Buying and Selling at LPL Financial

In other news, CEO Dan H. Arnold sold 39,015 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $210.33, for a total value of $8,206,024.95. Following the completion of the sale, the chief executive officer now directly owns 162,608 shares in the company, valued at approximately $34,201,340.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Dan H. Arnold sold 39,015 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $210.33, for a total value of $8,206,024.95. Following the completion of the sale, the chief executive officer now directly owns 162,608 shares in the company, valued at approximately $34,201,340.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard Steinmeier sold 7,355 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $216.64, for a total value of $1,593,387.20. Following the completion of the sale, the director now owns 24,078 shares of the company’s stock, valued at $5,216,257.92. The disclosure for this sale can be found here. Insiders have sold a total of 67,761 shares of company stock valued at $14,682,118 in the last three months. Corporate insiders own 1.60% of the company’s stock.

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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