LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by Mariner LLC

Mariner LLC grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,611 shares of the financial services provider’s stock after acquiring an additional 39 shares during the period. Mariner LLC’s holdings in LPL Financial were worth $4,117,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of LPL Financial by 15.7% during the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock valued at $5,913,000 after purchasing an additional 3,444 shares during the last quarter. Truist Financial Corp raised its holdings in LPL Financial by 7.9% during the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider’s stock worth $62,740,000 after buying an additional 14,106 shares during the period. Assenagon Asset Management S.A. lifted its stake in LPL Financial by 4.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock valued at $10,190,000 after buying an additional 1,383 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of LPL Financial by 46.9% in the fourth quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider’s stock worth $19,561,000 after buying an additional 19,126 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of LPL Financial by 4.3% in 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. 95.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LPLA shares. Morgan Stanley raised their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company decreased their target price on LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. upped their price target on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. JMP Securities decreased their price objective on LPL Financial from $435.00 to $420.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Finally, Barclays dropped their target price on LPL Financial from $414.00 to $365.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.83.

LPL Financial Price Performance

NASDAQ LPLA opened at $306.02 on Monday. The company has a 50 day moving average price of $334.18 and a two-hundred day moving average price of $322.30. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $384.04. The stock has a market capitalization of $24.28 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

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

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.39%. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Insider Activity

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

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.