Belpointe Asset Management LLC Makes New Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Belpointe Asset Management LLC acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,691 shares of the financial services provider's stock, valued at approximately $1,205,000.

Several other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of 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 worth $5,913,000 after acquiring an additional 3,444 shares in 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 last quarter. Assenagon Asset Management S.A. increased its holdings in LPL Financial by 4.6% during the 4th 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 raised its stake in shares of 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 worth $19,561,000 after purchasing an additional 19,126 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 purchasing an additional 13,936 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LPLA shares. Barclays lowered their price target on LPL Financial from $414.00 to $365.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. UBS Group raised their price target on shares of LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Citigroup reduced their price objective on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. TD Cowen raised shares of LPL Financial from a "hold" rating to a "buy" rating and lifted their target price for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Finally, 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 research note on Friday, January 31st. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $369.83.

LPL Financial Stock Performance

NASDAQ:LPLA traded down $0.02 on Friday, reaching $306.02. 413,918 shares of the company's stock were exchanged, compared to its average volume of 822,178. The firm has a market cap of $24.28 billion, a price-to-earnings ratio of 21.80, a P/E/G ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a fifty day simple moving average of $335.31 and a 200-day simple moving average of $320.55. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $384.04.

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

LPL Financial Announces Dividend

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

Insiders Place Their Bets

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 16,538 shares of the company's stock, valued at $5,954,837.66. This trade represents a 21.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 34,465 shares of company stock worth $12,562,070 in the last quarter. 1.30% of the stock is owned by company insiders.

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.