Tredje AP fonden Sells 186 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Tredje AP fonden lessened its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,889 shares of the financial services provider’s stock after selling 186 shares during the quarter. Tredje AP fonden’s holdings in LPL Financial were worth $3,321,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC lifted its holdings in shares of LPL Financial by 38.8% in the 1st quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider’s stock worth $11,057,000 after acquiring an additional 11,703 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of LPL Financial by 533.8% in the 1st quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 4,340 shares during the last quarter. Swedbank AB bought a new stake in shares of LPL Financial in the 1st quarter worth about $3,648,000. Sei Investments Co. lifted its holdings in shares of LPL Financial by 23.4% in the 1st quarter. Sei Investments Co. now owns 113,254 shares of the financial services provider’s stock worth $29,923,000 after acquiring an additional 21,481 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in LPL Financial by 5.4% during the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock valued at $110,070,000 after buying an additional 20,123 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LPLA. JPMorgan Chase & Co. lifted their price objective 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. Barclays decreased their price objective on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Wells Fargo & Company began coverage on shares of LPL Financial in a report on Thursday, September 12th. They set an “equal weight” rating and a $235.00 price objective for the company. UBS Group decreased their price objective on shares of LPL Financial from $290.00 to $215.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, 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 report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $275.27.

LPL Financial Stock Up 4.1 %

Shares of LPL Financial stock opened at $220.83 on Friday. The firm’s 50 day moving average price is $217.22 and its 200-day moving average price is $252.25. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $289.88. The company has a market cap of $16.50 billion, a P/E ratio of 16.68, a PEG ratio of 1.20 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last released its 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 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%. LPL Financial’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period last year, the business earned $3.94 EPS. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 15.9 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, August 9th. LPL Financial’s dividend payout ratio (DPR) is presently 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.