Icon Advisers Inc. Co. Has $10.28 Million Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Icon Advisers Inc. Co. decreased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,483 shares of the financial services provider's stock after selling 1,100 shares during the quarter. LPL Financial makes up 2.3% of Icon Advisers Inc. Co.'s portfolio, making the stock its biggest position. Icon Advisers Inc. Co.'s holdings in LPL Financial were worth $10,280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. increased its stake 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 valued at $5,913,000 after purchasing an additional 3,444 shares during the last quarter. Truist Financial Corp boosted its stake in 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 period. Assenagon Asset Management S.A. increased its stake in shares of 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 purchasing an additional 1,383 shares during the period. Bank of Montreal Can raised 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 valued at $19,561,000 after buying an additional 19,126 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in LPL Financial by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock worth $109,625,000 after buying an additional 13,936 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Insider Buying and Selling

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the company's 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 sale, the chief financial officer now directly owns 16,538 shares in the company, valued at $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the business's stock in a transaction on 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 owns 4,075 shares in the company, valued at $1,490,838.75. This represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock valued at $12,562,070 over the last three months. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley raised their target price on shares of LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. boosted their target price on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Citigroup decreased their price target on LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. JMP Securities dropped their price objective on LPL Financial from $435.00 to $420.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods boosted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $369.83.

LPL Financial Stock Performance

LPLA traded down $0.02 during trading on Friday, hitting $306.02. The stock had a trading volume of 413,918 shares, compared to its average volume of 824,284. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $384.04. The company has a 50 day simple moving average of $335.31 and a 200-day simple moving average of $320.55. The firm has a market cap of $24.28 billion, a PE ratio of 21.80, a P/E/G ratio of 0.94 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Tuesday, March 11th. LPL Financial's payout ratio is presently 8.55%.

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.