LPL Financial Holdings Inc. (NASDAQ:LPLA) Holdings Lowered by Commerce Bank

Commerce Bank lowered its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,816 shares of the financial services provider’s stock after selling 1,729 shares during the quarter. Commerce Bank’s holdings in LPL Financial were worth $6,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. SkyView Investment Advisors LLC lifted its position in shares of LPL Financial by 2.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 4,835 shares of the financial services provider’s stock valued at $1,125,000 after acquiring an additional 131 shares in the last quarter. Anchor Investment Management LLC grew its holdings in shares of LPL Financial by 15.6% during the third quarter. Anchor Investment Management LLC now owns 9,669 shares of the financial services provider’s stock valued at $2,249,000 after buying an additional 1,304 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in LPL Financial during the third quarter valued at $182,000. Tidal Investments LLC lifted its stake in LPL Financial by 98.9% in the 3rd quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 3,809 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in 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 worth $5,913,000 after acquiring an additional 3,444 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $306.02 on Friday. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The company has a market cap of $24.28 billion, a P/E ratio of 21.80, a P/E/G ratio of 0.94 and a beta of 0.64. The business’s 50 day moving average is $334.18 and its two-hundred day moving average is $321.70. 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 earnings results on Thursday, January 30th. The financial services provider reported $4.25 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%. On average, equities analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on LPLA shares. JMP Securities decreased their price target on shares of LPL Financial from $435.00 to $420.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th. Citigroup dropped their price target on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley lifted their price objective on LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Barclays cut their price target on LPL Financial from $414.00 to $365.00 and set an “overweight” rating for the company in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.83.

Insiders Place Their Bets

In related news, Director Marc Eliot Cohen sold 1,100 shares of the firm’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 of the company’s stock, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,465 shares of company stock worth $12,562,070. 1.30% of the stock is currently owned by company insiders.

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.