LPL Financial Holdings Inc. $LPLA Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 15.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,386 shares of the financial services provider’s stock after selling 29,341 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in LPL Financial were worth $51,476,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of LPL Financial by 8.3% during the second quarter. Vanguard Group Inc. now owns 7,986,766 shares of the financial services provider’s stock worth $2,994,798,000 after acquiring an additional 613,909 shares during the period. Boston Partners lifted its position in LPL Financial by 4.7% during the 2nd quarter. Boston Partners now owns 3,679,484 shares of the financial services provider’s stock worth $1,379,598,000 after acquiring an additional 165,201 shares during the period. Dodge & Cox grew its position in LPL Financial by 77.3% in the 2nd quarter. Dodge & Cox now owns 2,701,709 shares of the financial services provider’s stock valued at $1,013,060,000 after buying an additional 1,178,249 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of LPL Financial by 61.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,442,182 shares of the financial services provider’s stock worth $915,745,000 after acquiring an additional 926,122 shares during the period. Finally, Lone Pine Capital LLC lifted its position in LPL Financial by 6.1% in the second quarter. Lone Pine Capital LLC now owns 1,872,248 shares of the financial services provider’s stock valued at $702,037,000 after purchasing an additional 108,233 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Price Performance

LPLA stock opened at $357.17 on Friday. The stock has a market capitalization of $28.59 billion, a price-to-earnings ratio of 32.89, a price-to-earnings-growth ratio of 0.88 and a beta of 0.57. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.49. LPL Financial Holdings Inc. has a 52-week low of $262.83 and a 52-week high of $403.58. The stock’s fifty day simple moving average is $363.67 and its 200-day simple moving average is $359.43.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.The firm had revenue of $4.55 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the company earned $4.16 EPS. The firm’s quarterly revenue was up 46.4% on a year-over-year basis. Equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Thursday, November 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial’s dividend payout ratio is 11.05%.

Insiders Place Their Bets

In other LPL Financial news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $376.43, for a total value of $564,645.00. Following the transaction, the director owned 15,370 shares in the company, valued at $5,785,729.10. This trade represents a 8.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Steinmeier sold 5,058 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $370.99, for a total transaction of $1,876,467.42. Following the sale, the chief executive officer directly owned 9,326 shares of the company’s stock, valued at $3,459,852.74. This represents a 35.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,138 shares of company stock valued at $2,983,353 over the last quarter. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on LPLA. Rothschild Redb cut LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. TD Cowen increased their price objective on LPL Financial from $356.00 to $410.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. Citizens Jmp raised their target price on LPL Financial from $455.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, October 31st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $421.00 price target on shares of LPL Financial in a research note on Friday, October 31st. Finally, JMP Securities set a $475.00 price target on shares of LPL Financial in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.79.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.