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

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

Other large investors also recently modified their holdings of the company. Egerton Capital UK LLP acquired a new position in shares of LPL Financial during the 4th quarter worth about $91,012,000. Coronation Fund Managers Ltd. boosted its stake in shares of LPL Financial by 24.5% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 187,973 shares of the financial services provider’s stock worth $62,537,000 after buying an additional 36,950 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new position in shares of LPL Financial during the 3rd quarter worth about $1,975,000. Massachusetts Financial Services Co. MA boosted its stake in shares of LPL Financial by 14.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,719,447 shares of the financial services provider’s stock worth $1,328,475,000 after buying an additional 477,094 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of LPL Financial by 7.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 77,992 shares of the financial services provider’s stock worth $28,204,000 after buying an additional 5,179 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of recent research reports. Keefe, Bruyette & Woods initiated coverage on shares of LPL Financial in a research note on Wednesday, April 8th. They set an “outperform” rating and a $350.00 price objective for the company. Morgan Stanley reduced their price objective on shares of LPL Financial from $447.00 to $374.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Citizens Jmp restated a “market outperform” rating and set a $500.00 price objective on shares of LPL Financial in a research note on Monday, April 6th. TD Cowen reduced their price objective on shares of LPL Financial from $330.00 to $326.00 and set a “hold” rating for the company in a research note on Friday, May 1st. Finally, Barclays upped their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and an average price target of $398.86.

LPL Financial Stock Up 3.6%

Shares of LPLA stock opened at $295.66 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.56 and a current ratio of 2.56. The firm’s 50-day moving average is $301.82 and its 200-day moving average is $329.73. The stock has a market cap of $23.65 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 0.59 and a beta of 0.50. LPL Financial Holdings Inc. has a 52-week low of $260.15 and a 52-week high of $403.58.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.11. The company 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%. LPL Financial’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.15 EPS. Sell-side analysts predict that LPL Financial Holdings Inc. will post 22.98 EPS for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, May 21st. LPL Financial’s dividend payout ratio is presently 10.71%.

Insider Activity

In other news, CFO Matthew J. Audette sold 1,110 shares of the company’s stock in a transaction dated 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. This represents a 5.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

About LPL Financial

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.