Simplicity Wealth LLC Has $336,000 Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Simplicity Wealth LLC reduced its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 78.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,444 shares of the financial services provider’s stock after selling 5,209 shares during the period. Simplicity Wealth LLC’s holdings in LPL Financial were worth $336,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LPLA. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial during the second quarter valued at $25,000. Key Financial Inc acquired a new position in shares of LPL Financial in the 2nd quarter valued at about $28,000. Riverview Trust Co purchased a new stake in shares of LPL Financial in the first quarter worth approximately $30,000. Crewe Advisors LLC boosted its holdings in shares of LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 101 shares during the period. Finally, Tortoise Investment Management LLC grew its position in LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Up 1.9 %

LPLA stock opened at $248.09 on Monday. The stock has a market capitalization of $18.53 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88. The company has a 50-day moving average of $219.60 and a two-hundred day moving average of $248.42. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $289.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the firm posted $3.94 EPS. The company’s revenue was up 18.8% on a year-over-year basis. As a group, equities research analysts anticipate that LPL Financial Holdings Inc. will post 15.79 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Friday, August 9th. LPL Financial’s payout ratio is currently 9.06%.

Analysts Set New Price Targets

LPLA has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their target price on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Citigroup dropped their target price on LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Barclays reduced their price target on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Finally, Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $235.00 to $285.00 in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $278.23.

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.