Allspring Global Investments Holdings LLC Sells 122,214 Shares of LPL Financial Holdings Inc. $LPLA

Allspring Global Investments Holdings LLC cut its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 98.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,514 shares of the financial services provider’s stock after selling 122,214 shares during the period. Allspring Global Investments Holdings LLC’s holdings in LPL Financial were worth $727,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Osterweis Capital Management Inc. acquired a new position in LPL Financial during the 2nd quarter valued at $26,000. Clearstead Advisors LLC raised its position in shares of LPL Financial by 3,650.0% during the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after buying an additional 73 shares during the last quarter. Steigerwald Gordon & Koch Inc. raised its position in shares of LPL Financial by 550.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock valued at $28,000 after buying an additional 66 shares during the last quarter. Core Wealth Advisors LLC bought a new stake in shares of LPL Financial in the fourth quarter valued at about $36,000. Finally, Physician Wealth Advisors Inc. lifted its stake in shares of LPL Financial by 580.0% in the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider’s stock valued at $41,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $331.72 on Tuesday. The stock has a market capitalization of $26.53 billion, a price-to-earnings ratio of 29.62, a P/E/G ratio of 0.64 and a beta of 0.50. The firm’s 50-day moving average price is $297.19 and its two-hundred day moving average price is $316.45. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 1.26. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $403.58.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.11. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The company had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.98 billion. During the same quarter in the previous year, the company posted $5.15 earnings per share. LPL Financial’s quarterly revenue was up 34.6% compared to the same quarter last year. On average, equities analysts predict that LPL Financial Holdings Inc. will post 23.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LPLA. Morgan Stanley raised their price objective on LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. boosted their price objective on LPL Financial from $390.00 to $408.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. TD Cowen lowered their price objective on LPL Financial from $330.00 to $326.00 and set a “hold” rating on the stock in a research report on Friday, May 1st. Citizens Jmp restated a “market outperform” rating and issued a $500.00 target price on shares of LPL Financial in a research note on Monday, April 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $397.92.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total value of $94,248.00. Following the transaction, the director owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

LPL Financial Company 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.