Intrust Bank NA Trims Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Intrust Bank NA cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 974 shares of the financial services provider’s stock after selling 101 shares during the period. Intrust Bank NA’s holdings in LPL Financial were worth $222,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of LPL Financial by 3.9% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,145,780 shares of the financial services provider’s stock valued at $509,945,000 after buying an additional 79,869 shares during the period. Bank of New York Mellon Corp increased its stake in LPL Financial by 17.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,099,608 shares of the financial services provider’s stock worth $261,322,000 after buying an additional 161,485 shares during the period. Massachusetts Financial Services Co. MA raised its position in LPL Financial by 1,732.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 568,292 shares of the financial services provider’s stock valued at $135,055,000 after purchasing an additional 537,272 shares in the last quarter. American Century Companies Inc. grew its position in shares of LPL Financial by 6.6% during the third quarter. American Century Companies Inc. now owns 567,856 shares of the financial services provider’s stock worth $134,951,000 after buying an additional 35,088 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of LPL Financial by 6.7% during the third quarter. Northern Trust Corp now owns 498,405 shares of the financial services provider’s stock worth $118,446,000 after buying an additional 31,402 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $305.00 price objective on shares of LPL Financial in a report on Wednesday. TD Cowen raised their price target on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research note on Wednesday. UBS Group upped their price objective on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Morgan Stanley raised LPL Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. increased their price target 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of “Hold” and an average price target of $276.20.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the transaction, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kabir Sethi sold 1,300 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the sale, the director now directly owns 10,245 shares of the company’s stock, valued at $2,730,292.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the completion of the sale, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. Insiders have sold a total of 60,151 shares of company stock valued at $15,911,088 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Stock Performance

Shares of LPLA opened at $265.49 on Thursday. The company has a market capitalization of $19.83 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.30 and a beta of 0.83. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.77 and a current ratio of 1.77. LPL Financial Holdings Inc. has a 1 year low of $179.00 and a 1 year high of $276.12. The company’s 50 day simple moving average is $264.62 and its 200 day simple moving average is $242.70.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. LPL Financial had a return on equity of 56.36% and a net margin of 9.71%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the business earned $4.21 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 15.55 EPS for the current year.

About LPL Financial

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.