Freedom Investment Management Inc. Sells 3,084 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Freedom Investment Management Inc. lessened its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 76.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 972 shares of the financial services provider’s stock after selling 3,084 shares during the quarter. Freedom Investment Management Inc.’s holdings in LPL Financial were worth $226,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. FMR LLC boosted its stake in LPL Financial by 24.4% during the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after purchasing an additional 650,675 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in LPL Financial by 9.9% during 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 purchasing an additional 233,242 shares during the period. The Manufacturers Life Insurance Company boosted its stake in LPL Financial by 31.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider’s stock valued at $216,227,000 after purchasing an additional 183,755 shares during the period. American Century Companies Inc. boosted its stake in LPL Financial by 52.6% during the 2nd quarter. American Century Companies Inc. now owns 477,211 shares of the financial services provider’s stock valued at $133,285,000 after purchasing an additional 164,586 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in LPL Financial during the 2nd quarter valued at approximately $40,004,000. Institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on LPLA. JMP Securities reaffirmed a “market outperform” rating and issued a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. TD Cowen upped their price target on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a report on Thursday, October 31st. The Goldman Sachs Group upped their price target on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group upped their price target on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company raised LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial presently has an average rating of “Moderate Buy” and a consensus target price of $290.83.

LPL Financial Trading Down 0.2 %

LPLA stock opened at $325.15 on Monday. The business has a fifty day moving average price of $274.56 and a 200 day moving average price of $255.03. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $330.72. The stock has a market capitalization of $24.35 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.59 and a beta of 0.85. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

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

LPL Financial Announces Dividend

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

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.