Asset Management One Co. Ltd. Trims Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Asset Management One Co. Ltd. lowered its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 30,804 shares of the financial services provider’s stock after selling 223 shares during the period. Asset Management One Co. Ltd.’s holdings in LPL Financial were worth $7,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds 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% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after buying an additional 233,242 shares during the last quarter. 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 last quarter. Samlyn Capital LLC lifted its stake in LPL Financial by 8.0% in the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after buying an additional 88,635 shares during the last quarter. TD Asset Management Inc lifted its stake in LPL Financial by 33.2% in the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock valued at $291,586,000 after buying an additional 275,286 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in LPL Financial by 19.8% in the first quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock valued at $245,011,000 after buying an additional 153,072 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 1.1 %

LPL Financial stock opened at $304.90 on Friday. 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 firm has a market capitalization of $22.79 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 1.34 and a beta of 0.85. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $309.00. The stock’s fifty day moving average is $240.71 and its two-hundred day moving average is $249.45.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.74 earnings per share. Analysts predict that LPL Financial Holdings Inc. will post 16.03 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s payout ratio is currently 9.02%.

Analyst Ratings Changes

LPLA has been the subject of several analyst reports. The Goldman Sachs Group upped their price target on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group cut their price target 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. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a research note on Tuesday, July 30th. Citigroup upped their price target on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley upped their price objective on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock 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.