LPL Financial Holdings Inc. (NASDAQ:LPLA) Position Trimmed by Creative Planning

Creative Planning lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 17.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,757 shares of the financial services provider’s stock after selling 817 shares during the period. Creative Planning’s holdings in LPL Financial were worth $874,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in LPL Financial by 9.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after acquiring an additional 233,242 shares in the last quarter. Boston Partners grew its stake in shares of LPL Financial by 71.9% in the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after buying an additional 738,509 shares in the last quarter. Samlyn Capital LLC grew its stake in shares of LPL Financial by 8.0% in the 2nd quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after buying an additional 88,635 shares in the last quarter. TD Asset Management Inc grew its stake in shares of LPL Financial by 33.2% in the 1st quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock valued at $291,586,000 after buying an additional 275,286 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its stake in shares of LPL Financial by 19.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock valued at $245,011,000 after buying an additional 153,072 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 0.5 %

Shares of LPLA stock opened at $280.81 on Friday. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $291.67. The firm has a market cap of $20.99 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.43 and a beta of 0.88. The stock has a 50 day moving average of $234.24 and a 200-day moving average of $248.48. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $3.74 earnings per share. On average, equities analysts predict that LPL Financial Holdings Inc. will post 15.71 EPS for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.43%. LPL Financial’s payout ratio is 9.02%.

Analyst Upgrades and Downgrades

LPLA has been the subject of several recent research reports. Morgan Stanley boosted their price target on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $310.00 price target on shares of LPL Financial in a research note on Wednesday, October 9th. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Barclays boosted their price target on LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Jefferies Financial Group decreased their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $286.92.

About LPL Financial

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.