Enterprise Financial Services Corp Sells 10,168 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Enterprise Financial Services Corp trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating) by 64.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,724 shares of the financial services provider’s stock after selling 10,168 shares during the quarter. Enterprise Financial Services Corp’s holdings in LPL Financial were worth $916,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of LPLA. Morgan Stanley boosted its stake in LPL Financial by 136.1% in the 2nd quarter. Morgan Stanley now owns 281,726 shares of the financial services provider’s stock worth $38,027,000 after purchasing an additional 162,405 shares during the period. Legacy Wealth Planning LLC purchased a new stake in shares of LPL Financial during the 3rd quarter worth approximately $224,000. Bank of Nova Scotia raised its holdings in shares of LPL Financial by 285.6% during the 3rd quarter. Bank of Nova Scotia now owns 55,493 shares of the financial services provider’s stock worth $8,699,000 after acquiring an additional 41,100 shares in the last quarter. Vident Investment Advisory LLC purchased a new stake in shares of LPL Financial during the 3rd quarter worth approximately $3,428,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of LPL Financial by 160.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,170 shares of the financial services provider’s stock worth $654,000 after acquiring an additional 2,571 shares in the last quarter. Institutional investors and hedge funds own 96.06% of the company’s stock.

LPLA stock traded up $0.13 during midday trading on Wednesday, reaching $184.07. The company’s stock had a trading volume of 15,408 shares, compared to its average volume of 823,180. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a fifty day simple moving average of $188.24 and a two-hundred day simple moving average of $175.13. LPL Financial Holdings Inc. has a 1 year low of $127.03 and a 1 year high of $220.80. The firm has a market capitalization of $14.72 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 0.48 and a beta of 0.95.

LPL Financial (NASDAQ:LPLAGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.16. LPL Financial had a return on equity of 35.82% and a net margin of 5.74%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the company earned $1.77 EPS. The business’s revenue was up 21.0% compared to the same quarter last year. As a group, analysts forecast that LPL Financial Holdings Inc. will post 9.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Thursday, June 9th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, June 8th. LPL Financial’s payout ratio is 17.61%.

LPLA has been the topic of several recent research reports. Truist Financial upped their price objective on LPL Financial from $200.00 to $230.00 in a report on Tuesday, May 3rd. StockNews.com lowered LPL Financial from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. Morgan Stanley increased their price target on LPL Financial from $246.00 to $263.00 and gave the company an “overweight” rating in a report on Wednesday, April 13th. Citigroup increased their price target on LPL Financial from $225.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, April 14th. Finally, JMP Securities upgraded LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 price target on the stock in a report on Thursday, April 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $221.00.

In other news, Director William Francis Glavin, Jr. acquired 1,760 shares of LPL Financial stock in a transaction that occurred on Tuesday, March 8th. The stock was purchased at an average price of $141.59 per share, for a total transaction of $249,198.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michelle Oroschakoff sold 15,724 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $172.23, for a total transaction of $2,708,144.52. Following the transaction, the director now owns 42,068 shares of the company’s stock, valued at approximately $7,245,371.64. The disclosure for this sale can be found here. Insiders have sold a total of 51,029 shares of company stock worth $9,035,766 in the last three months. Corporate insiders own 1.60% of the company’s stock.

About LPL Financial (Get Rating)

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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