Raymond James Trust N.A. Has $697,000 Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Raymond James Trust N.A. cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 39.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,995 shares of the financial services provider’s stock after selling 1,986 shares during the period. Raymond James Trust N.A.’s holdings in LPL Financial were worth $697,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LPLA. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of LPL Financial by 9.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after purchasing an additional 233,242 shares during the period. Boston Partners raised its position in LPL Financial by 71.9% during the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after purchasing an additional 738,509 shares during the last quarter. Samlyn Capital LLC lifted its holdings in LPL Financial by 8.0% during the 2nd quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock worth $333,684,000 after buying an additional 88,635 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of LPL Financial by 11.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider’s stock valued at $247,077,000 after buying an additional 90,020 shares during the last quarter. Finally, Darlington Partners Capital Management LP increased its stake in shares of LPL Financial by 9.5% in the second quarter. Darlington Partners Capital Management LP now owns 783,290 shares of the financial services provider’s stock valued at $218,773,000 after buying an additional 68,276 shares during the period. 95.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Morgan Stanley increased their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Barclays boosted their target price on shares of LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price target on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Citigroup boosted their price objective on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Stock Performance

NASDAQ LPLA opened at $325.12 on Tuesday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a fifty day simple moving average of $263.32 and a 200 day simple moving average of $252.97. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $330.72. The company has a market cap of $24.34 billion, a P/E ratio of 24.45, a PEG ratio of 1.60 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the firm posted $3.74 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts predict that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. LPL Financial’s payout ratio is 9.02%.

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.