Clarkston Capital Partners LLC Has $107.68 Million Stock Holdings in LPL Financial Holdings Inc. $LPLA

Clarkston Capital Partners LLC lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 39.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 301,484 shares of the financial services provider’s stock after selling 197,149 shares during the period. LPL Financial accounts for 2.5% of Clarkston Capital Partners LLC’s portfolio, making the stock its 13th largest position. Clarkston Capital Partners LLC owned 0.38% of LPL Financial worth $107,681,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Osterweis Capital Management Inc. acquired a new stake in LPL Financial during the 2nd quarter worth $26,000. Clearstead Advisors LLC grew its holdings in shares of LPL Financial by 3,650.0% in the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock valued at $27,000 after buying an additional 73 shares during the period. Steigerwald Gordon & Koch Inc. grew its holdings in shares of LPL Financial by 550.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock valued at $28,000 after buying an additional 66 shares during the period. Core Wealth Advisors LLC acquired a new position in shares of LPL Financial in the 4th quarter valued at $36,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of LPL Financial in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LPLA shares. Citizens Jmp reissued a “market outperform” rating and issued a $500.00 price target on shares of LPL Financial in a report on Monday, April 6th. Barclays boosted their price target on shares of LPL Financial from $369.00 to $412.00 and gave the company an “overweight” rating in a report on Friday, May 1st. William Blair reissued an “outperform” rating on shares of LPL Financial in a report on Thursday, June 4th. UBS Group boosted their price target on shares of LPL Financial from $380.00 to $395.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, TD Cowen decreased their price target on shares of LPL Financial from $330.00 to $326.00 and set a “hold” rating for the company in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $398.86.

Insider Buying and Selling

In related news, CFO Matthew J. Audette sold 1,110 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $330.01, for a total value of $366,311.10. Following the sale, the chief financial officer directly owned 19,803 shares of the company’s stock, valued at approximately $6,535,188.03. The trade was a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

LPL Financial Trading Up 3.6%

LPLA opened at $295.66 on Friday. The stock has a market capitalization of $23.65 billion, a P/E ratio of 26.40, a P/E/G ratio of 0.59 and a beta of 0.50. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $403.58. The firm’s fifty day simple moving average is $301.82 and its 200 day simple moving average is $329.73. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 1.26.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 EPS for the quarter, beating the consensus estimate of $5.49 by $0.11. The business had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.98 billion. LPL Financial had a net margin of 4.93% and a return on equity of 31.26%. The firm’s revenue was up 34.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.15 EPS. As a group, research analysts anticipate that LPL Financial Holdings Inc. will post 22.98 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, May 21st. LPL Financial’s payout ratio is currently 10.71%.

LPL Financial Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.