APG Asset Management N.V. Acquires 39,500 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

APG Asset Management N.V. boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 790.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,500 shares of the financial services provider’s stock after buying an additional 39,500 shares during the quarter. APG Asset Management N.V. owned approximately 0.06% of LPL Financial worth $14,032,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in shares of 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 purchasing an additional 3,444 shares in the last quarter. Truist Financial Corp raised its stake in shares of LPL Financial by 7.9% in 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 period. Assenagon Asset Management S.A. lifted its position in shares of LPL Financial by 4.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider’s stock valued at $10,190,000 after buying an additional 1,383 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in LPL Financial by 4.3% during the fourth 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 in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after buying an additional 276,166 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Matthew J. Audette sold 4,588 shares of LPL Financial stock in a transaction that occurred 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 sale, the chief financial officer now owns 16,538 shares of the company’s stock, valued at approximately $5,954,837.66. The trade was a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the 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 transaction, the director now directly owns 4,075 shares in the company, valued at approximately $1,490,838.75. This trade represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,465 shares of company stock valued at $12,562,070. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on LPLA. JMP Securities lowered their price target on LPL Financial from $435.00 to $420.00 and set a “market outperform” rating on the stock in a report on Tuesday. UBS Group upped their target price on shares of LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised 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. Wells Fargo & Company decreased their price target on shares of LPL Financial from $405.00 to $342.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Barclays cut their price objective on LPL Financial from $414.00 to $365.00 and set an “overweight” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to data from MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and an average target price of $369.83.

LPL Financial Price Performance

NASDAQ:LPLA opened at $301.53 on Friday. The firm has a market capitalization of $23.93 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 0.94 and a beta of 0.64. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The business has a 50 day simple moving average of $341.04 and a 200-day simple moving average of $318.44. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $384.04.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 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 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.40%. LPL Financial’s payout ratio is 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.