LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,100 shares of the financial services provider’s stock after selling 600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in LPL Financial were worth $6,770,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LPLA. Ashton Thomas Private Wealth LLC purchased a new position in LPL Financial in the 2nd quarter worth approximately $25,000. Key Financial Inc purchased a new stake in LPL Financial in the 2nd quarter valued at $28,000. Crewe Advisors LLC increased its stake in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 101 shares during the last quarter. Tortoise Investment Management LLC raised its holdings in shares of 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 acquiring an additional 56 shares during the period. Finally, Paladin Wealth LLC acquired a new position in shares of LPL Financial during the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Up 11.7 %

Shares of LPLA opened at $308.16 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market capitalization of $23.04 billion, a PE ratio of 23.17, a P/E/G ratio of 1.34 and a beta of 0.85. The company’s 50-day simple moving average is $239.07 and its 200-day simple moving average is $249.06. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $309.00.

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, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the company posted $3.74 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Analysts forecast that LPL Financial Holdings Inc. will post 16.03 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared 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 0.39%. LPL Financial’s dividend payout ratio (DPR) is 9.02%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Barclays raised their price target on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Citigroup upped their price objective on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group cut their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Company 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.