LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Creative Planning

Creative Planning lowered its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 17.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,757 shares of the financial services provider’s stock after selling 817 shares during the quarter. Creative Planning’s holdings in LPL Financial were worth $874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its stake 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 purchasing an additional 233,242 shares during the last quarter. Boston Partners lifted its stake in LPL Financial by 71.9% during 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. Samlyn Capital LLC lifted its stake in LPL Financial by 8.0% during the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock worth $333,684,000 after purchasing an additional 88,635 shares during the last quarter. TD Asset Management Inc lifted its stake in 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 worth $291,586,000 after purchasing an additional 275,286 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in LPL Financial by 19.8% during the first quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock worth $245,011,000 after purchasing an additional 153,072 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $280.81 on Friday. 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’s 50-day moving average price is $234.24 and its two-hundred day moving average price is $248.48. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $291.67. The stock has a market cap of $20.99 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.43 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. LPL Financial’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.74 earnings per share. As a group, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 15.71 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.43%. LPL Financial’s payout ratio is presently 9.02%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LPLA shares. Morgan Stanley boosted their price target on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. Barclays boosted their price target on shares of LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target 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. Finally, Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $286.92.

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.