Cynosure Group LLC Decreases Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Cynosure Group LLC reduced its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 48.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 885 shares of the financial services provider's stock after selling 839 shares during the quarter. Cynosure Group LLC's holdings in LPL Financial were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of LPLA. Rockefeller Capital Management L.P. bought a new stake in shares of LPL Financial during the third quarter valued at approximately $2,633,000. Principal Financial Group Inc. grew its stake in shares of LPL Financial by 15.7% in 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 during the period. Truist Financial Corp grew its position in LPL Financial by 7.9% in the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock worth $62,740,000 after purchasing an additional 14,106 shares during the period. Assenagon Asset Management S.A. increased 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 valued at $10,190,000 after acquiring an additional 1,383 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of LPL Financial by 4.3% during the 4th 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 during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

LPLA has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research report on Tuesday. Barclays decreased their price target on LPL Financial from $414.00 to $365.00 and set an "overweight" rating on the stock in a report on Monday. JMP Securities cut their price target on shares of LPL Financial from $435.00 to $420.00 and set a "market outperform" rating on the stock in a report on Tuesday. TD Cowen upgraded LPL Financial from a "hold" rating to a "buy" rating and raised their price target for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. Finally, Morgan Stanley upped their target price on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to MarketBeat, LPL Financial has an average rating of "Moderate Buy" and a consensus target price of $369.83.

Insider Activity at LPL Financial

In other news, CFO Matthew J. Audette sold 4,588 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 16,538 shares in the company, valued at approximately $5,954,837.66. This represents a 21.72 % decrease in their position. The sale was disclosed in a legal filing 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 dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following 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. In the last ninety days, insiders sold 34,465 shares of company stock valued at $12,562,070. 1.30% of the stock is owned by insiders.

LPL Financial Stock Performance

Shares of LPL Financial stock traded up $31.99 during trading on Wednesday, hitting $318.88. 2,707,062 shares of the company's stock were exchanged, compared to its average volume of 818,886. The stock has a market capitalization of $23.78 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $384.04. The business has a 50-day simple moving average of $342.30 and a 200-day simple moving average of $317.89. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced 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 return on equity of 49.41% and a net margin of 8.55%. On average, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

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

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.