LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 46.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,910 shares of the financial services provider's stock after purchasing an additional 19,126 shares during the period. Bank of Montreal Can owned 0.08% of LPL Financial worth $19,561,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in LPL Financial in the 4th quarter valued at $305,747,000. Raymond James Financial Inc. purchased a new position in LPL Financial during the fourth quarter worth about $295,982,000. Boston Partners grew its holdings in LPL Financial by 26.0% in the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock valued at $1,278,454,000 after buying an additional 805,637 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of LPL Financial during the 4th quarter worth about $136,440,000. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of LPL Financial by 57.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider's stock worth $364,290,000 after acquiring an additional 405,341 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Marc Eliot Cohen sold 1,100 shares of the business'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 value of $402,435.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the transaction, the chief financial officer now owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,465 shares of company stock worth $12,562,070. 1.30% of the stock is currently owned by corporate insiders.

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LPL Financial Stock Up 1.0 %

LPLA traded up $3.08 on Tuesday, reaching $313.81. The company's stock had a trading volume of 454,946 shares, compared to its average volume of 820,263. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04. The business's 50 day moving average is $337.77 and its 200 day moving average is $320.14. The stock has a market cap of $24.90 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.

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, 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%. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on LPLA. Keefe, Bruyette & Woods increased their price target 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 downgraded LPL Financial from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. Wells Fargo & Company cut their price objective on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. JMP Securities reduced 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, JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $369.83.

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.