UMB Bank n.a. Sells 37,548 Shares of LPL Financial Holdings Inc. $LPLA

UMB Bank n.a. lessened its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 91.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,629 shares of the financial services provider’s stock after selling 37,548 shares during the quarter. UMB Bank n.a.’s holdings in LPL Financial were worth $1,207,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. AGF Management Ltd. increased its position in LPL Financial by 74.9% in the 2nd quarter. AGF Management Ltd. now owns 765,024 shares of the financial services provider’s stock valued at $286,861,000 after acquiring an additional 327,580 shares in the last quarter. Bryn Mawr Trust Advisors LLC bought a new stake in shares of LPL Financial during the second quarter valued at approximately $316,000. Callan Family Office LLC acquired a new stake in shares of LPL Financial in the second quarter valued at approximately $1,514,000. Allspring Global Investments Holdings LLC raised its position in LPL Financial by 30.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 191,727 shares of the financial services provider’s stock worth $71,524,000 after purchasing an additional 44,249 shares during the last quarter. Finally, Ellevest Inc. bought a new position in LPL Financial in the 2nd quarter worth approximately $340,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of LPLA opened at $376.33 on Tuesday. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.49. LPL Financial Holdings Inc. has a 1 year low of $262.83 and a 1 year high of $403.58. The stock has a market cap of $30.12 billion, a P/E ratio of 34.18, a price-to-earnings-growth ratio of 0.79 and a beta of 0.58. The stock’s 50-day moving average price is $366.80 and its two-hundred day moving average price is $358.21.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $5.23 EPS for the quarter, beating analysts’ consensus estimates of $4.82 by $0.41. The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.90 billion. LPL Financial had a return on equity of 35.99% and a net margin of 5.08%.LPL Financial’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.25 EPS. On average, equities analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $1.20 annualized dividend and a yield of 0.3%. LPL Financial’s dividend payout ratio (DPR) is 10.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LPLA shares. Citigroup reiterated a “market outperform” rating on shares of LPL Financial in a research report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of LPL Financial in a report on Wednesday, January 28th. Citizens Jmp lifted their price objective on LPL Financial from $455.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. TD Cowen cut their target price on shares of LPL Financial from $399.00 to $378.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Morgan Stanley reduced their target price on shares of LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a research note on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $427.69.

Insider Transactions at LPL Financial

In other news, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $352.48, for a total value of $28,198.40. Following the completion of the transaction, the director owned 5,502 shares of the company’s stock, valued at $1,939,344.96. The trade was a 1.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Steinmeier sold 5,058 shares of the company’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 completion of the sale, the chief executive officer owned 9,326 shares of the company’s stock, valued at approximately $3,459,852.74. This represents a 35.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,388 shares of company stock valued at $2,747,538 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

LPL Financial 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.