LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV decreased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,934 shares of the financial services provider’s stock after selling 384 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in LPL Financial were worth $958,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp raised its position in shares of LPL Financial by 7.9% in 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 period. Assenagon Asset Management S.A. boosted its position in LPL Financial by 4.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock worth $10,190,000 after purchasing an additional 1,383 shares in the last quarter. Bank of Montreal Can grew its holdings in LPL Financial by 46.9% in 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 period. Charles Schwab Investment Management Inc. increased its position in shares of 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 valued at $109,625,000 after buying an additional 13,936 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of LPL Financial by 27.6% during the 3rd 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. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at LPL Financial

In related news, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the sale, the director now owns 4,075 shares in the company, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $1,652,001.16. Following the transaction, the chief financial officer now owns 16,538 shares of the company’s stock, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LPLA has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. UBS Group boosted their price target on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. 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. Finally, JPMorgan Chase & Co. upped their target price on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and a consensus price target of $371.50.

LPL Financial Price Performance

NASDAQ:LPLA opened at $360.42 on Friday. The company has a market capitalization of $28.60 billion, a P/E ratio of 25.67, a P/E/G ratio of 0.94 and a beta of 0.65. 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 Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04. The stock’s fifty day moving average is $320.64 and its two-hundred day moving average is $329.38.

LPL Financial (NASDAQ:LPLA) last posted its 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 net margin of 8.55% and a return on equity of 49.41%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the prior year, the company posted $3.83 earnings per share. LPL Financial’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities 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 will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be issued a $0.30 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 0.33%. LPL Financial’s dividend payout ratio (DPR) is presently 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.