LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC lowered its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 10.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 998 shares of the financial services provider’s stock after selling 116 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in LPL Financial were worth $279,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LPLA. Ashton Thomas Private Wealth LLC purchased a new stake in LPL Financial during the second quarter worth $25,000. Key Financial Inc purchased a new stake in shares of LPL Financial in the 2nd quarter worth about $28,000. Riverview Trust Co purchased a new position in LPL Financial during the 1st quarter valued at about $30,000. Crewe Advisors LLC raised its position in LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 101 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its holdings in shares of LPL Financial by 74.7% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LPLA has been the subject of a number of recent research reports. TD Cowen raised their price objective on shares of LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Barclays dropped their price target on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. 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 research report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price objective on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $275.27.

LPL Financial Price Performance

LPLA opened at $206.98 on Friday. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $289.88. The company’s 50 day simple moving average is $224.72 and its 200 day simple moving average is $254.53. The stock has a market capitalization of $15.46 billion, a PE ratio of 15.63, a P/E/G ratio of 1.21 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.22. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.94 EPS. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 15.9 EPS for the current year.

LPL Financial Announces Dividend

The company also recently declared 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 of this dividend was Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.58%. LPL Financial’s dividend payout ratio is presently 9.06%.

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.