Allspring Global Investments Holdings LLC Has $727,000 Stock Holdings in LPL Financial Holdings Inc. $LPLA

Allspring Global Investments Holdings LLC trimmed its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 98.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,514 shares of the financial services provider’s stock after selling 122,214 shares during the period. Allspring Global Investments Holdings LLC’s holdings in LPL Financial were worth $727,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in LPLA. Osterweis Capital Management Inc. bought a new stake in shares of LPL Financial during the second quarter worth $26,000. Clearstead Advisors LLC boosted its holdings in LPL Financial by 3,650.0% in the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 73 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its holdings in LPL Financial by 550.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 66 shares during the last quarter. Core Wealth Advisors LLC acquired a new stake in LPL Financial in the fourth quarter worth about $36,000. Finally, Physician Wealth Advisors Inc. increased its position in LPL Financial by 580.0% in the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 116 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Stock Up 0.9%

Shares of NASDAQ LPLA opened at $331.72 on Tuesday. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $403.58. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. The stock has a market cap of $26.53 billion, a P/E ratio of 29.62, a P/E/G ratio of 0.64 and a beta of 0.50. The firm has a 50 day moving average price of $297.19 and a 200 day moving average price of $316.45.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, topping the consensus estimate of $5.49 by $0.11. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.98 billion. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same period last year, the business posted $5.15 earnings per share. Analysts expect that LPL Financial Holdings Inc. will post 23.38 EPS for the current year.

Analyst Ratings Changes

LPLA has been the subject of several recent research reports. UBS Group dropped their price objective on LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Jefferies Financial Group lowered their price target on shares of LPL Financial from $464.00 to $383.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a research note on Friday. Barclays cut their price objective on shares of LPL Financial from $412.00 to $394.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of LPL Financial from $390.00 to $408.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $397.92.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 308 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the sale, the director owned 6,415 shares in the company, valued at $1,962,990. This represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

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.