Intrust Bank NA Purchases Shares of 804 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Intrust Bank NA bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 804 shares of the financial services provider’s stock, valued at approximately $263,000.

A number of other hedge funds have also recently made changes to their positions in the business. Cerity Partners LLC boosted its stake in shares of LPL Financial by 164.2% during the third quarter. Cerity Partners LLC now owns 11,046 shares of the financial services provider’s stock valued at $2,570,000 after purchasing an additional 6,865 shares during the period. Townsquare Capital LLC increased its stake in shares of LPL Financial by 14.4% in the 3rd quarter. Townsquare Capital LLC now owns 10,564 shares of the financial services provider’s stock worth $2,458,000 after acquiring an additional 1,328 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in LPL Financial by 4.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,214 shares of the financial services provider’s stock valued at $6,331,000 after buying an additional 1,104 shares during the last quarter. Vinva Investment Management Ltd raised its position in shares of LPL Financial by 14.1% in the 3rd quarter. Vinva Investment Management Ltd now owns 3,178 shares of the financial services provider’s stock worth $734,000 after purchasing an additional 393 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in LPL Financial in the third quarter worth about $2,633,000. 95.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other LPL Financial news, CFO Matthew J. Audette sold 4,588 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the sale, the chief financial officer now owns 16,538 shares of the company’s stock, valued at approximately $5,954,837.66. This trade represents a 21.72 % 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, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,465 shares of company stock worth $12,562,070 in the last three months. Corporate insiders own 1.30% of the company’s stock.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $336.89 on Monday. The firm’s 50 day simple moving average is $351.92 and its 200-day simple moving average is $312.54. 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 Holdings Inc. has a one year low of $187.19 and a one year high of $384.04. The firm has a market cap of $25.16 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping 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%. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed 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 0.36%. The ex-dividend date was Tuesday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LPLA. Wells Fargo & Company upped their price target on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $277.00 to $413.00 in a research report on Thursday, December 19th. StockNews.com lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, March 26th. Citigroup lifted their price target on shares of LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Profile

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.