Invesco Ltd. Has $32.89 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Invesco Ltd. decreased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 21.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,727 shares of the financial services provider's stock after selling 27,914 shares during the quarter. Invesco Ltd. owned about 0.13% of LPL Financial worth $32,888,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LPLA. Principal Financial Group Inc. increased its stake in LPL Financial by 15.7% in the 3rd 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 period. Truist Financial Corp lifted 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. Assenagon Asset Management S.A. boosted its holdings in 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 worth $10,190,000 after acquiring an additional 1,383 shares in the last quarter. Bank of Montreal Can grew its position in LPL Financial by 46.9% during the 4th 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. raised its stake 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 acquiring an additional 13,936 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Up 4.9 %

NASDAQ:LPLA traded up $14.62 during mid-day trading on Wednesday, hitting $314.82. The company had a trading volume of 123,459 shares, compared to its average volume of 822,741. The firm has a market capitalization of $24.98 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 0.94 and a beta of 0.64. 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 1 year low of $187.19 and a 1 year high of $384.04. The business has a fifty day simple moving average of $331.26 and a 200-day simple moving average of $322.50.

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

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Tuesday, March 11th. LPL Financial's payout ratio is 8.55%.

Analysts Set New Price Targets

Several research analysts recently weighed in on LPLA shares. JPMorgan Chase & Co. lifted their price target on LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. UBS Group increased their price objective on LPL Financial from $390.00 to $420.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Wells Fargo & Company dropped their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. JMP Securities reduced their target price on shares of 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 increased their price target on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $369.83.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 28,777 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm's stock in a transaction that occurred 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 of the company's stock, 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 sold 34,465 shares of company stock valued at $12,562,070 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

About LPL Financial

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.