Handelsinvest Investeringsforvaltning Sells 858 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Handelsinvest Investeringsforvaltning lowered its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 34.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,651 shares of the financial services provider’s stock after selling 858 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in LPL Financial were worth $436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LPLA. Teza Capital Management LLC bought a new stake in shares of LPL Financial during the third quarter valued at approximately $318,000. Truist Financial Corp boosted its holdings in LPL Financial by 6.4% in the third quarter. Truist Financial Corp now owns 131,532 shares of the financial services provider’s stock worth $31,258,000 after purchasing an additional 7,953 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in LPL Financial by 5.3% in the third quarter. Axxcess Wealth Management LLC now owns 2,744 shares of the financial services provider’s stock worth $652,000 after purchasing an additional 137 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in LPL Financial by 524.9% in the third quarter. Ameriprise Financial Inc. now owns 273,140 shares of the financial services provider’s stock worth $64,912,000 after purchasing an additional 229,434 shares during the last quarter. Finally, Alps Advisors Inc. boosted its holdings in LPL Financial by 34.3% in the third quarter. Alps Advisors Inc. now owns 2,837 shares of the financial services provider’s stock worth $674,000 after purchasing an additional 725 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 0.9 %

LPLA opened at $279.37 on Thursday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84. LPL Financial Holdings Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $289.88. The firm’s fifty day moving average is $275.94 and its 200 day moving average is $259.69. The stock has a market cap of $20.87 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.13 and a beta of 0.90.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.44. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.68 billion. On average, sell-side analysts forecast that LPL Financial Holdings Inc. will post 15.85 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is 9.06%.

Analysts Set New Price Targets

LPLA has been the topic of several research reports. Barclays raised their target price on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. raised their target price on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. TD Cowen raised their target price on shares of LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. JMP Securities reiterated a “market outperform” rating and set a $305.00 price target on shares of LPL Financial in a research note on Wednesday, May 1st. Finally, Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, LPL Financial presently has a consensus rating of “Hold” and an average target price of $276.20.

Insider Activity at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of LPL Financial stock in a transaction on Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the sale, the chief executive officer now directly owns 142,608 shares in the company, valued at approximately $39,546,624.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

LPL Financial 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.