Amalgamated Bank Decreases Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Amalgamated Bank lessened its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 31.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,030 shares of the financial services provider’s stock after selling 2,299 shares during the quarter. Amalgamated Bank’s holdings in LPL Financial were worth $1,405,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. DGS Capital Management LLC grew its position in LPL Financial by 2.8% in the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 44 shares during the period. Tortoise Investment Management LLC boosted its stake 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 worth $37,000 after buying an additional 56 shares during the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of LPL Financial by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock worth $1,693,000 after acquiring an additional 60 shares during the period. LVW Advisors LLC grew its holdings in shares of LPL Financial by 1.9% in the first quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock worth $857,000 after acquiring an additional 61 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in LPL Financial by 3.1% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,169 shares of the financial services provider’s stock valued at $573,000 after acquiring an additional 65 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LPLA has been the topic of several research reports. Wells Fargo & Company assumed coverage on LPL Financial in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 target price on the stock. The Goldman Sachs Group dropped their price objective on shares of LPL Financial from $289.00 to $271.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. upped their target price on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective for the company in a research report on Tuesday, July 30th. Finally, UBS Group decreased their target price on LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, LPL Financial presently has an average rating of “Hold” and a consensus price target of $274.92.

LPL Financial Price Performance

NASDAQ:LPLA opened at $229.27 on Friday. The stock has a market cap of $17.13 billion, a PE ratio of 17.32, a P/E/G ratio of 1.27 and a beta of 0.88. 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 business’s 50-day simple moving average is $215.33 and its two-hundred day simple moving average is $250.76. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $289.88.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.94 EPS. As a group, analysts forecast that LPL Financial Holdings Inc. will post 15.88 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a yield of 0.52%. LPL Financial’s dividend payout ratio is currently 9.06%.

LPL Financial Company 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.