Dorsey & Whitney Trust CO LLC Makes New $280,000 Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Dorsey & Whitney Trust CO LLC bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 857 shares of the financial services provider's stock, valued at approximately $280,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Daiwa Securities Group Inc. raised its stake in shares of LPL Financial by 50.6% during the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider's stock worth $3,685,000 after buying an additional 5,320 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of LPL Financial during the third quarter worth approximately $2,633,000. Truist Financial Corp raised its stake in shares of LPL Financial by 7.9% during the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock worth $62,740,000 after buying an additional 14,106 shares during the last quarter. Principal Financial Group Inc. raised its stake 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 buying an additional 3,444 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of 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 buying an additional 1,383 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of recent research reports. UBS Group boosted their price target on shares of LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. JMP Securities reaffirmed a "market outperform" rating and issued a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Citigroup upped their target price on shares of LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company upped their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $379.17.

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LPL Financial Stock Up 0.7 %

LPL Financial stock opened at $313.23 on Wednesday. The stock has a market capitalization of $23.39 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $384.04. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a 50 day moving average of $353.37 and a 200-day moving average of $301.68.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating 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%. On average, equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.38%. The ex-dividend date is Tuesday, March 11th. LPL Financial's payout ratio is 8.55%.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the transaction, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the 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 transaction, the director now owns 4,075 shares of the company's stock, valued at $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,465 shares of company stock worth $12,562,070. 1.00% of the stock is owned by insiders.

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.

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