LPL Financial Holdings Inc. (NASDAQ:LPLA) Holdings Decreased by Bleakley Financial Group LLC

Bleakley Financial Group LLC reduced its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.3% during the third quarter, Holdings Channel.com reports. The firm owned 4,887 shares of the financial services provider’s stock after selling 384 shares during the period. Bleakley Financial Group LLC’s holdings in LPL Financial were worth $1,137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Boston Partners raised its position in LPL Financial by 71.9% in the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after acquiring an additional 738,509 shares in the last quarter. TD Asset Management Inc raised its position in LPL Financial by 33.2% in the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock worth $291,586,000 after acquiring an additional 275,286 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in LPL Financial by 9.9% in 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 acquiring an additional 233,242 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in LPL Financial by 31.1% in the second quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider’s stock worth $216,227,000 after acquiring an additional 183,755 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its position in LPL Financial by 159.5% in the first quarter. Coronation Fund Managers Ltd. now owns 298,178 shares of the financial services provider’s stock worth $78,779,000 after acquiring an additional 183,290 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $258.62 on Monday. The business has a fifty day simple moving average of $225.63 and a 200 day simple moving average of $248.11. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $19.32 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.32 and a beta of 0.88. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $289.88.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating 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 analyst estimates of $2.89 billion. During the same period in the prior year, the company posted $3.94 earnings per share. LPL Financial’s revenue was up 18.8% on a year-over-year basis. Sell-side analysts expect that LPL Financial Holdings Inc. will post 15.79 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.46%. LPL Financial’s dividend payout ratio is currently 9.06%.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of analyst reports. StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective on the stock in a report on Tuesday, July 30th. UBS Group boosted their price objective on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods cut their price objective on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price objective on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $277.77.

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.