LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock Position Lowered by WINTON GROUP Ltd

WINTON GROUP Ltd trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 34.4% during the 4th quarter, HoldingsChannel reports. The firm owned 1,851 shares of the financial services provider’s stock after selling 971 shares during the quarter. WINTON GROUP Ltd’s holdings in LPL Financial were worth $604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Rockefeller Capital Management L.P. purchased a new stake in shares of LPL Financial in the third quarter worth approximately $2,633,000. Truist Financial Corp boosted its stake in shares of LPL Financial by 7.9% during the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider’s stock valued at $62,740,000 after buying an additional 14,106 shares during the period. Principal Financial Group Inc. grew its holdings in shares of LPL Financial by 15.7% during the 3rd quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock valued at $5,913,000 after acquiring an additional 3,444 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of LPL Financial by 4.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock worth $10,190,000 after acquiring an additional 1,383 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of LPL Financial by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider’s stock worth $109,625,000 after acquiring an additional 13,936 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LPLA. StockNews.com lowered LPL Financial from a “hold” rating to a “sell” rating in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $435.00 price objective on shares of LPL Financial in a research report on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley raised their price target on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

Insider Activity

In related news, Director Marc Eliot Cohen sold 1,100 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the transaction, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the sale, the chief financial officer now owns 13,663 shares in the company, valued at $4,988,907.82. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,465 shares of company stock valued at $12,562,070. Insiders own 1.30% of the company’s stock.

LPL Financial Price Performance

NASDAQ LPLA opened at $336.89 on Friday. The stock has a market capitalization of $25.16 billion, a PE ratio of 24.00, a P/E/G ratio of 0.94 and a beta of 0.82. The stock has a 50-day simple moving average of $351.92 and a 200 day simple moving average of $311.82. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $384.04.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. LPL Financial’s payout ratio is 8.55%.

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 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.