Allspring Global Investments Holdings LLC Grows Position in LPL Financial Holdings Inc. $LPLA

Allspring Global Investments Holdings LLC lifted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 30.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 191,727 shares of the financial services provider’s stock after buying an additional 44,249 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.24% of LPL Financial worth $71,524,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Summit Securities Group LLC purchased a new stake in LPL Financial during the first quarter valued at $26,000. Millstone Evans Group LLC raised its stake in LPL Financial by 123.1% during the first quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 48 shares in the last quarter. Maseco LLP purchased a new stake in LPL Financial during the second quarter valued at $34,000. Private Trust Co. NA raised its stake in LPL Financial by 234.5% during the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 68 shares in the last quarter. Finally, TCTC Holdings LLC raised its stake in LPL Financial by 116.7% during the first quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Up 0.8%

NASDAQ LPLA opened at $317.71 on Tuesday. The company’s 50-day moving average price is $346.17 and its 200-day moving average price is $353.27. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. The stock has a market cap of $25.42 billion, a PE ratio of 21.73, a PEG ratio of 0.74 and a beta of 0.61. LPL Financial Holdings Inc. has a 12 month low of $245.87 and a 12 month high of $403.58.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.30. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. The business’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.88 earnings per share. Equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.30 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. LPL Financial’s dividend payout ratio is presently 8.21%.

Insider Transactions at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $338.21, for a total value of $507,315.00. Following the transaction, the director directly owned 17,620 shares in the company, valued at approximately $5,959,260.20. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the transaction, the director owned 5,582 shares in the company, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,830 shares of company stock worth $1,333,105. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LPLA. Keefe, Bruyette & Woods upped their price target on shares of LPL Financial from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. The Goldman Sachs Group assumed coverage on shares of LPL Financial in a research note on Friday, September 12th. They set a “buy” rating and a $405.00 price target on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of LPL Financial in a research report on Wednesday, October 8th. UBS Group set a $455.00 price objective on shares of LPL Financial in a research report on Thursday. Finally, Rothschild & Co Redburn cut shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price objective on the stock. in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and an average target price of $395.85.

LPL Financial Company 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.