Intrust Bank NA Sells 101 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Intrust Bank NA trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 974 shares of the financial services provider’s stock after selling 101 shares during the quarter. Intrust Bank NA’s holdings in LPL Financial were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in LPL Financial by 1,732.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 568,292 shares of the financial services provider’s stock worth $135,055,000 after buying an additional 537,272 shares in the last quarter. Canada Pension Plan Investment Board raised its position in LPL Financial by 358.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 456,990 shares of the financial services provider’s stock worth $108,604,000 after purchasing an additional 357,245 shares during the last quarter. Ameriprise Financial Inc. boosted its position in LPL Financial by 524.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 273,140 shares of the financial services provider’s stock valued at $64,912,000 after buying an additional 229,434 shares during the last quarter. HM Payson & Co. acquired a new stake in shares of LPL Financial in the 3rd quarter valued at $54,406,000. Finally, Markel Group Inc. raised its position in shares of LPL Financial by 137.1% during the third quarter. Markel Group Inc. now owns 301,264 shares of the financial services provider’s stock worth $71,595,000 after acquiring an additional 174,205 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Transactions at LPL Financial

In other news, CEO Dan H. Arnold sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the sale, the chief executive officer now owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other LPL Financial news, Director Kabir Sethi sold 1,300 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $266.50, for a total value of $346,450.00. Following the completion of the sale, the director now owns 10,245 shares in the company, valued at $2,730,292.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the completion of the transaction, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. Insiders sold 60,151 shares of company stock valued at $15,911,088 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $305.00 target price on shares of LPL Financial in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Barclays increased their price target on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. TD Cowen increased their target price on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Raymond James initiated coverage on LPL Financial in a research note on Thursday, April 4th. They issued an “underperform” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $276.20.

LPL Financial Trading Down 1.4 %

Shares of NASDAQ:LPLA opened at $265.49 on Thursday. The company’s fifty day simple moving average is $264.62 and its 200 day simple moving average is $242.70. The firm has a market cap of $19.83 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.30 and a beta of 0.83. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. LPL Financial Holdings Inc. has a 12 month low of $179.00 and a 12 month high of $276.12.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.18. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. LPL Financial had a return on equity of 56.36% and a net margin of 9.71%. LPL Financial’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.21 earnings per share. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 15.55 EPS for the current fiscal year.

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.