Hsbc Holdings PLC Reduces Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Hsbc Holdings PLC cut its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 45.0% during the second quarter, Holdings Channel reports. The institutional investor owned 161,830 shares of the financial services provider’s stock after selling 132,496 shares during the period. Hsbc Holdings PLC’s holdings in LPL Financial were worth $45,132,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new stake in LPL Financial during the second quarter worth approximately $25,000. Key Financial Inc acquired a new stake in LPL Financial during the second quarter worth approximately $28,000. Riverview Trust Co purchased a new stake in shares of LPL Financial during the 1st quarter worth approximately $30,000. Crewe Advisors LLC boosted its holdings in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after buying an additional 101 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its position in shares of LPL Financial by 74.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after buying an additional 56 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Trading Down 2.4 %

Shares of LPL Financial stock opened at $215.52 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. The firm has a market cap of $16.10 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $289.88. The company’s 50-day simple moving average is $216.25 and its 200-day simple moving average is $251.88.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the prior year, the business posted $3.94 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, equities research analysts anticipate that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.56%. LPL Financial’s payout ratio is currently 9.06%.

Analysts Set New Price Targets

Several research firms have issued reports on LPLA. Wells Fargo & Company initiated coverage on shares of LPL Financial in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 price objective for the company. UBS Group dropped their price target on LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Barclays reduced their price objective on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a research report on Tuesday, July 30th. Finally, StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $275.27.

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.