LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 40.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 25,067 shares of the financial services provider’s stock after selling 16,783 shares during the quarter. Intech Investment Management LLC’s holdings in LPL Financial were worth $7,001,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. DGS Capital Management LLC grew its stake in LPL Financial by 2.8% in the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 44 shares during the period. Oliver Luxxe Assets LLC lifted its holdings in LPL Financial by 0.6% in the 4th quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock valued at $1,856,000 after purchasing an additional 48 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in LPL Financial by 74.7% in the 2nd 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. Gulf International Bank UK Ltd lifted its holdings in LPL Financial by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock valued at $1,693,000 after purchasing an additional 60 shares in the last quarter. Finally, LVW Advisors LLC lifted its holdings in LPL Financial by 1.9% in the 1st quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock valued at $857,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analysts Set New Price Targets

LPLA has been the topic of a number of research reports. Jefferies Financial Group raised their price objective on LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a report on Monday, July 8th. Barclays decreased their price objective on LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock 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. TD Cowen lifted their price target on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, UBS Group reduced their price target on LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, LPL Financial presently has a consensus rating of “Hold” and an average target price of $275.27.

LPL Financial Stock Down 2.4 %

Shares of NASDAQ:LPLA opened at $215.52 on Friday. The business has a 50-day moving average price of $216.25 and a 200 day moving average price of $251.88. 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 company has a market capitalization of $16.10 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.20 and a beta of 0.88. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $289.88.

LPL Financial (NASDAQ:LPLA) last released 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. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. LPL Financial’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.94 EPS. Sell-side analysts expect that LPL Financial Holdings Inc. will post 15.9 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Friday, August 9th. 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.