LPL Financial Holdings Inc (LPLA) Holdings Raised by BlackRock Inc.

BlackRock Inc. raised its holdings in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,181,657 shares of the financial services provider’s stock after acquiring an additional 39,236 shares during the quarter. BlackRock Inc. owned approximately 4.82% of LPL Financial worth $255,415,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of LPLA. Vanguard Group Inc. grew its position in shares of LPL Financial by 2.6% during the third quarter. Vanguard Group Inc. now owns 9,789,045 shares of the financial services provider’s stock valued at $631,492,000 after purchasing an additional 243,618 shares in the last quarter. Vanguard Group Inc grew its position in shares of LPL Financial by 2.6% during the third quarter. Vanguard Group Inc now owns 9,789,045 shares of the financial services provider’s stock valued at $631,492,000 after purchasing an additional 243,618 shares in the last quarter. Southpoint Capital Advisors LP grew its position in shares of LPL Financial by 6.7% during the third quarter. Southpoint Capital Advisors LP now owns 2,400,000 shares of the financial services provider’s stock valued at $154,824,000 after purchasing an additional 150,000 shares in the last quarter. FMR LLC grew its position in shares of LPL Financial by 35.4% during the third quarter. FMR LLC now owns 1,971,605 shares of the financial services provider’s stock valued at $127,189,000 after purchasing an additional 515,091 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of LPL Financial by 5.6% during the third quarter. Bank of New York Mellon Corp now owns 1,540,194 shares of the financial services provider’s stock valued at $99,357,000 after purchasing an additional 81,126 shares in the last quarter. 90.07% of the stock is currently owned by institutional investors and hedge funds.

In other LPL Financial news, insider George Burton White sold 23,892 shares of the business’s stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $66.00, for a total transaction of $1,576,872.00. Following the completion of the transaction, the insider now owns 50,581 shares in the company, valued at $3,338,346. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Gooley sold 25,392 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $74.06, for a total value of $1,880,531.52. Following the transaction, the insider now owns 17,293 shares of the company’s stock, valued at approximately $1,280,719.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,418 shares of company stock valued at $13,893,460. 2.60% of the stock is currently owned by company insiders.

A number of research analysts have recently weighed in on LPLA shares. Zacks Investment Research upgraded LPL Financial from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Thursday, February 7th. BidaskClub lowered LPL Financial from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 9th. Goldman Sachs Group started coverage on LPL Financial in a research report on Tuesday, November 27th. They set a “conviction-buy” rating for the company. ValuEngine upgraded LPL Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Finally, Wells Fargo & Co raised their price objective on LPL Financial from $61.00 to $65.00 and gave the company a “market perform” rating in a research report on Friday, January 4th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $80.60.

LPLA opened at $74.54 on Friday. The stock has a market capitalization of $6.32 billion, a P/E ratio of 13.98, a P/E/G ratio of 0.76 and a beta of 1.64. LPL Financial Holdings Inc has a 12 month low of $52.03 and a 12 month high of $79.34. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 2.44.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 31st. The financial services provider reported $1.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.12. The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.36 billion. LPL Financial had a return on equity of 46.58% and a net margin of 8.47%. Analysts anticipate that LPL Financial Holdings Inc will post 6.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.34%. LPL Financial’s dividend payout ratio is currently 18.76%.

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LPL Financial Company 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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

Further Reading: SEC Filing

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

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