B. Riley Wealth Advisors Inc. Has $251,000 Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

B. Riley Wealth Advisors Inc. lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 59.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 900 shares of the financial services provider’s stock after selling 1,311 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in LPL Financial were worth $251,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in LPLA. Boston Partners lifted its stake in LPL Financial by 71.9% in the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after buying an additional 738,509 shares during the period. TD Asset Management Inc raised its stake in LPL Financial by 33.2% during the 1st quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock worth $291,586,000 after buying an additional 275,286 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in LPL Financial by 9.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after acquiring an additional 233,242 shares in the last quarter. Gilder Gagnon Howe & Co. LLC grew its stake in LPL Financial by 12,785.9% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 234,524 shares of the financial services provider’s stock valued at $53,382,000 after acquiring an additional 232,704 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of LPL Financial by 31.1% in the second quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider’s stock worth $216,227,000 after acquiring an additional 183,755 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Stock Down 0.2 %

LPLA opened at $238.71 on Wednesday. The stock has a market cap of $17.83 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The stock’s fifty day simple moving average is $217.54 and its 200 day simple moving average is $248.76. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $289.88. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77.

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, topping analysts’ consensus estimates of $3.66 by $0.22. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.94 earnings per share. As a group, research analysts expect that LPL Financial Holdings Inc. will post 15.88 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.50%. LPL Financial’s payout ratio is presently 9.06%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LPLA shares. UBS Group boosted their price objective on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group cut their price objective on shares of LPL Financial from $289.00 to $271.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th. Wells Fargo & Company initiated coverage on LPL Financial in a report on Thursday, September 12th. They set an “equal weight” rating and a $235.00 target price for the company. Barclays cut their target price on LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Finally, JMP Securities increased their target price on shares of LPL Financial from $305.00 to $310.00 and gave the stock a “market outperform” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $274.38.

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.