LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 110.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,733 shares of the financial services provider's stock after acquiring an additional 9,840 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in LPL Financial were worth $6,117,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in LPL Financial by 15.7% during the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock worth $5,913,000 after purchasing an additional 3,444 shares in the last quarter. Truist Financial Corp lifted its position in LPL Financial by 7.9% in the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock valued at $62,740,000 after acquiring an additional 14,106 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in LPL Financial by 4.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider's stock valued at $10,190,000 after acquiring an additional 1,383 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of LPL Financial by 46.9% during the fourth quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock worth $19,561,000 after purchasing an additional 19,126 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of LPL Financial by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock worth $109,625,000 after purchasing an additional 13,936 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Activity at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock valued at $12,562,070 in the last ninety days. Corporate insiders own 1.30% of the company's stock.

LPL Financial Price Performance

LPL Financial stock traded down $2.17 during midday trading on Friday, reaching $313.67. The company's stock had a trading volume of 209,034 shares, compared to its average volume of 827,189. The firm has a market capitalization of $24.89 billion, a PE ratio of 22.33, a P/E/G ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $384.04. The stock's 50 day simple moving average is $328.87 and its 200 day simple moving average is $322.96. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. On average, 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 company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial's dividend payout ratio is currently 8.55%.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup lowered their target price on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. upped their price target on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Finally, UBS Group upped their target price on shares of LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $369.83.

About LPL Financial

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.