abrdn plc Lowers Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

abrdn plc cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) by 14.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 216,750 shares of the financial services provider’s stock after selling 36,618 shares during the period. abrdn plc owned approximately 0.29% of LPL Financial worth $71,047,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LPLA. Creative Planning increased its position in shares of LPL Financial by 14.7% in the second quarter. Creative Planning now owns 4,574 shares of the financial services provider’s stock valued at $1,278,000 after buying an additional 586 shares in the last quarter. Cetera Investment Advisers increased its holdings in LPL Financial by 5.9% in the 2nd quarter. Cetera Investment Advisers now owns 14,439 shares of the financial services provider’s stock worth $4,033,000 after acquiring an additional 805 shares in the last quarter. SG Americas Securities LLC raised its position in LPL Financial by 15.1% during the third quarter. SG Americas Securities LLC now owns 5,578 shares of the financial services provider’s stock worth $1,298,000 after acquiring an additional 732 shares during the period. Handelsbanken Fonder AB raised its position in LPL Financial by 21.6% during the third quarter. Handelsbanken Fonder AB now owns 19,681 shares of the financial services provider’s stock worth $4,578,000 after acquiring an additional 3,500 shares during the period. Finally, Diversified Trust Co purchased a new position in LPL Financial during the third quarter valued at $1,445,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Insider Activity

In related news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LPLA. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $277.00 to $413.00 in a research note on Thursday, December 19th. Barclays boosted their price objective on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup raised their target price on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, January 10th. UBS Group boosted their price target on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Morgan Stanley raised their price objective on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $370.50.

View Our Latest Stock Analysis on LPLA

LPL Financial Trading Down 0.6 %

Shares of LPLA opened at $361.89 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a 50-day moving average price of $337.13 and a 200 day moving average price of $276.48. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $375.74. The firm has a market capitalization of $27.10 billion, a P/E ratio of 25.78, a P/E/G ratio of 1.13 and a beta of 0.87.

LPL Financial (NASDAQ:LPLAGet Free Report) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.4 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. LPL Financial’s dividend payout ratio is currently 8.55%.

LPL Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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