Allspring Global Investments Holdings LLC Has $45.11 Million Stock Position in LPL Financial Holdings Inc. $LPLA

Allspring Global Investments Holdings LLC cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 23.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,728 shares of the financial services provider’s stock after selling 37,658 shares during the period. Allspring Global Investments Holdings LLC owned 0.16% of LPL Financial worth $45,105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Osterweis Capital Management Inc. bought a new position in LPL Financial in the second quarter worth approximately $26,000. SJS Investment Consulting Inc. grew its stake in LPL Financial by 912.5% in the third quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 73 shares during the period. Chung Wu Investment Group LLC bought a new stake in shares of LPL Financial during the third quarter valued at approximately $27,000. Eastern Bank raised its position in shares of LPL Financial by 72.0% during the third quarter. Eastern Bank now owns 86 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 36 shares during the period. Finally, Westside Investment Management Inc. acquired a new position in shares of LPL Financial during the third quarter worth approximately $34,000. 95.66% of the stock is owned by institutional investors.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $289.27 on Thursday. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 1.36. The stock’s fifty day simple moving average is $326.13 and its two-hundred day simple moving average is $344.30. 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 $23.20 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 0.67 and a beta of 0.56.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, January 29th. The financial services provider reported $5.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.41. LPL Financial had a net margin of 5.08% and a return on equity of 34.19%. The firm had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the business posted $4.25 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were paid a $0.30 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial’s dividend payout ratio (DPR) is 10.90%.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 1,581 shares of LPL Financial stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $320.50, for a total transaction of $506,710.50. Following the transaction, the chief financial officer owned 21,382 shares of the company’s stock, valued at $6,852,931. This trade represents a 6.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc Eliot Cohen sold 1,088 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $309.72, for a total value of $336,975.36. Following the completion of the transaction, the director owned 4,400 shares in the company, valued at $1,362,768. The trade was a 19.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 6,990 shares of company stock worth $2,201,837. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LPLA shares. Morgan Stanley reduced their price target on shares of LPL Financial from $462.00 to $447.00 and set an “overweight” rating for the company in a research report on Monday, December 22nd. Jefferies Financial Group upped their price objective on shares of LPL Financial from $426.00 to $440.00 and gave the stock a “buy” rating in a report on Friday, January 30th. TD Cowen dropped their price objective on shares of LPL Financial from $399.00 to $378.00 and set a “hold” rating on the stock in a research note on Friday, January 30th. UBS Group set a $500.00 price objective on shares of LPL Financial in a report on Tuesday, February 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LPL Financial in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, LPL Financial has an average rating of “Moderate Buy” and an average target price of $428.71.

About LPL Financial

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.