Point72 Hong Kong Ltd Has $1.79 Million Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Point72 Hong Kong Ltd reduced its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 50.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,406 shares of the financial services provider’s stock after selling 6,482 shares during the period. Point72 Hong Kong Ltd’s holdings in LPL Financial were worth $1,789,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Toronto Dominion Bank lifted its stake in LPL Financial by 32.3% in the 2nd quarter. Toronto Dominion Bank now owns 88,953 shares of the financial services provider’s stock valued at $24,845,000 after acquiring an additional 21,740 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of LPL Financial in the second quarter valued at approximately $40,004,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of LPL Financial by 57.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 14,261 shares of the financial services provider’s stock worth $3,983,000 after purchasing an additional 5,232 shares in the last quarter. Samlyn Capital LLC boosted its holdings 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. Finally, DRW Securities LLC acquired a new position in LPL Financial during the second quarter worth $5,418,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LPLA has been the topic of several analyst reports. Wells Fargo & Company initiated coverage on shares of LPL Financial in a research report on Thursday, September 12th. They set an “equal weight” rating and a $235.00 price target on the stock. UBS Group dropped their target price on LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Keefe, Bruyette & Woods reduced their price target on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Bank of America raised LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target on the stock in a research report on Tuesday, July 30th. Finally, Barclays cut their price objective on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a report on Friday, July 26th. One investment 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $275.27.

LPL Financial Stock Performance

LPLA opened at $230.35 on Thursday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. The stock has a market cap of $17.21 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.27 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. The business has a 50 day moving average of $215.12 and a 200-day moving average of $250.91.

LPL Financial (NASDAQ:LPLA) last announced its quarterly 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 return on equity of 52.14% and a net margin of 8.91%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm posted $3.94 EPS. The company’s quarterly revenue was up 18.8% on a year-over-year basis. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 15.88 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a $0.30 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.52%. LPL Financial’s dividend payout ratio is currently 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.