UMB Bank n.a. Increases Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

UMB Bank n.a. increased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 176.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,115 shares of the financial services provider's stock after acquiring an additional 26,267 shares during the quarter. UMB Bank n.a. owned approximately 0.05% of LPL Financial worth $13,450,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LPLA. Truist Financial Corp lifted its position in shares of LPL Financial by 7.9% during the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock valued at $62,740,000 after buying an additional 14,106 shares during the last quarter. Bank of Montreal Can lifted 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 valued at $19,561,000 after purchasing an additional 19,126 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in LPL Financial by 4.3% in 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of LPL Financial by 27.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after purchasing an additional 276,166 shares in the last quarter. Finally, Dynasty Wealth Management LLC grew 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 valued at $2,013,000 after acquiring an additional 2,283 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LPLA has been the topic of several analyst reports. Wall Street Zen upgraded LPL Financial from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. JMP Securities raised their target price on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. Morgan Stanley boosted their price objective on shares of LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Wells Fargo & Company dropped their target price on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Citigroup decreased their price objective on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $377.50.

LPL Financial Stock Up 2.3%

LPLA stock opened at $388.96 on Friday. The business's 50-day moving average price is $341.36 and its 200-day moving average price is $341.54. The stock has a market cap of $31.11 billion, a P/E ratio of 27.70, a PEG ratio of 0.94 and a beta of 0.67. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $390.23. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

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

LPL Financial Announces Dividend

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

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.

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