LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by National Bank of Canada FI

National Bank of Canada FI trimmed its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 98.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,604 shares of the financial services provider’s stock after selling 118,168 shares during the period. National Bank of Canada FI’s holdings in LPL Financial were worth $452,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Belpointe Asset Management LLC raised its stake in shares of LPL Financial by 86.3% in the 2nd quarter. Belpointe Asset Management LLC now owns 3,669 shares of the financial services provider’s stock valued at $1,025,000 after acquiring an additional 1,700 shares during the period. Markel Group Inc. raised its stake in shares of LPL Financial by 6.1% in the 2nd quarter. Markel Group Inc. now owns 481,791 shares of the financial services provider’s stock valued at $134,564,000 after acquiring an additional 27,500 shares during the period. Fortis Capital Advisors LLC raised its stake in shares of LPL Financial by 49.8% in the 2nd quarter. Fortis Capital Advisors LLC now owns 2,950 shares of the financial services provider’s stock valued at $824,000 after acquiring an additional 981 shares during the period. Pzena Investment Management LLC raised its stake in shares of LPL Financial by 51.2% in the 2nd quarter. Pzena Investment Management LLC now owns 1,541 shares of the financial services provider’s stock valued at $430,000 after acquiring an additional 522 shares during the period. Finally, Tortoise Investment Management LLC increased its stake in LPL Financial by 74.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after buying an additional 56 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Trading Down 0.6 %

Shares of NASDAQ:LPLA opened at $205.71 on Friday. The company’s 50 day moving average is $223.27 and its two-hundred day moving average is $254.20. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week 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. The company has a market cap of $15.38 billion, a PE ratio of 15.54, a P/E/G ratio of 1.20 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the business posted $3.94 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. Equities analysts predict that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Friday, August 9th. LPL Financial’s payout ratio is 9.06%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LPLA. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods cut their target price on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. UBS Group cut their target price on shares of LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Barclays cut their target price on shares of 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, JPMorgan Chase & Co. upped their target price on shares of LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $275.27.

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.