ASB Consultores LLC Cuts Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

ASB Consultores LLC cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 46.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 736 shares of the financial services provider’s stock after selling 642 shares during the period. ASB Consultores LLC’s holdings in LPL Financial were worth $206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LPLA. Vanguard Group Inc. raised its holdings in LPL Financial by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock worth $1,625,446,000 after acquiring an additional 48,439 shares during the last quarter. Boston Partners raised its stake in shares of 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 purchasing an additional 738,509 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of LPL Financial by 33.2% during the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock valued at $291,586,000 after purchasing an additional 275,286 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of LPL Financial by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 970,749 shares of the financial services provider’s stock valued at $256,472,000 after buying an additional 23,890 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in LPL Financial by 19.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock worth $245,011,000 after buying an additional 153,072 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

NASDAQ LPLA opened at $215.52 on Friday. The business’s 50 day moving average price is $216.25 and its 200-day moving average price is $251.88. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $289.88. The company has a market cap of $16.10 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.20 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 earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the firm posted $3.94 earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. Sell-side analysts predict that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.30 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.56%. LPL Financial’s dividend payout ratio (DPR) is currently 9.06%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JMP Securities raised their price target on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a report on Friday, July 26th. Wells Fargo & Company started coverage on LPL Financial in a report on Thursday, September 12th. They set an “equal weight” rating and a $235.00 price target on the stock. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Keefe, Bruyette & Woods cut their target price on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, Jefferies Financial Group boosted their price objective on shares of LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $275.27.

LPL Financial 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.