Vident Advisory LLC Increases Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Vident Advisory LLC boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 58.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,526 shares of the financial services provider's stock after buying an additional 1,294 shares during the quarter. Vident Advisory LLC's holdings in LPL Financial were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Truist Financial Corp grew its holdings 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 purchasing an additional 14,106 shares during the last quarter. Bank of Montreal Can boosted 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 buying an additional 19,126 shares during the period. Charles Schwab Investment Management Inc. grew its stake 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 valued at $109,625,000 after buying an additional 13,936 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after buying an additional 276,166 shares during the period. Finally, Mount Yale Investment Advisors LLC increased its holdings in shares of LPL Financial by 35.7% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 3,693 shares of the financial services provider's stock worth $1,206,000 after buying an additional 972 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total value of $1,652,001.16. Following the completion of the sale, the chief financial officer now owns 16,538 shares of the company's stock, valued at approximately $5,954,837.66. This trade represents a 21.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LPLA shares. UBS Group increased their target price on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a report on Friday, January 31st. Morgan Stanley raised their target price on shares of LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods upped their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. JPMorgan Chase & Co. increased 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. Finally, JMP Securities boosted their price objective on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $377.50.

LPL Financial Stock Up 2.7%

NASDAQ:LPLA traded up $9.92 during mid-day trading on Tuesday, hitting $382.42. 664,089 shares of the company's stock were exchanged, compared to its average volume of 835,116. The company has a market cap of $30.58 billion, a PE ratio of 27.24, a P/E/G ratio of 0.94 and a beta of 0.65. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $390.23. The business has a fifty day moving average price of $332.72 and a 200 day moving average price of $337.46.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 earnings per share 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 company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the company earned $3.83 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

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

LPL Financial 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.