LPL Financial Holdings Inc. (NASDAQ:LPLA) Position Cut by Wellington Management Group LLP

Wellington Management Group LLP lowered its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 33.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,670 shares of the financial services provider's stock after selling 76,487 shares during the period. Wellington Management Group LLP owned about 0.20% of LPL Financial worth $49,195,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp raised its position in LPL Financial by 7.9% during the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock worth $62,740,000 after acquiring an additional 14,106 shares during the last quarter. Bank of Montreal Can raised its position in 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 acquiring an additional 19,126 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 acquiring an additional 13,936 shares during the last quarter. JPMorgan Chase & Co. raised its position in LPL Financial by 27.6% during the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after acquiring an additional 276,166 shares during the last quarter. Finally, Dynasty Wealth Management LLC raised its position in LPL Financial by 58.8% during the fourth quarter. Dynasty Wealth Management LLC now owns 6,165 shares of the financial services provider's stock worth $2,013,000 after acquiring an additional 2,283 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Trading Down 0.8%

LPL Financial stock traded down $3.13 during midday trading on Monday, reaching $384.04. The stock had a trading volume of 340,804 shares, compared to its average volume of 845,400. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $390.23. The stock has a market capitalization of $30.71 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The stock's 50-day simple moving average is $336.50 and its 200 day simple moving average is $339.35.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping analysts' consensus estimates of $4.54 by $0.61. The company had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.83 earnings per share. Analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, May 30th. LPL Financial's dividend payout ratio (DPR) is 8.30%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LPLA. Barclays lifted their target price on shares of LPL Financial from $365.00 to $400.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. JMP Securities lifted their price target on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Wall Street Zen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating in a report on Thursday. Morgan Stanley increased their price target on LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Finally, Citigroup decreased their price objective on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $377.50.

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.