LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.3% during the second quarter, HoldingsChannel.com reports. The fund owned 9,765 shares of the financial services provider’s stock after selling 441 shares during the period. Public Sector Pension Investment Board’s holdings in LPL Financial were worth $2,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. DRW Securities LLC acquired a new position in LPL Financial in the second quarter valued at $5,418,000. Mount Yale Investment Advisors LLC grew its holdings in shares of LPL Financial by 11.8% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,952 shares of the financial services provider’s stock worth $545,000 after buying an additional 206 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in LPL Financial by 9.9% in 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 during the period. Ensign Peak Advisors Inc raised its stake in LPL Financial by 57.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 75,606 shares of the financial services provider’s stock valued at $21,117,000 after acquiring an additional 27,608 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in LPL Financial by 3,600.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 54,318 shares of the financial services provider’s stock worth $15,171,000 after acquiring an additional 52,850 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

LPLA stock opened at $230.86 on Friday. The firm has a 50 day moving average of $215.72 and a 200-day moving average of $250.43. The company has a market cap of $17.25 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.27 and a beta of 0.88. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $289.88.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.22. The firm had revenue of $2.93 billion during 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%. LPL Financial’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.94 earnings per share. As a group, equities analysts expect that LPL Financial Holdings Inc. will post 15.88 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.30 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.52%. LPL Financial’s dividend payout ratio is presently 9.06%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LPLA shares. Keefe, Bruyette & Woods dropped their target price on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Citigroup dropped their price objective on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday. Bank of America upgraded 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. Wells Fargo & Company assumed coverage on shares of LPL Financial in a report on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 target price on the stock. Finally, StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $275.69.

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.