Advisors Asset Management Inc. Sells 767 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Advisors Asset Management Inc. lowered its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 28.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,906 shares of the financial services provider’s stock after selling 767 shares during the period. Advisors Asset Management Inc.’s holdings in LPL Financial were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in LPL Financial during the 2nd quarter worth approximately $25,000. Key Financial Inc bought a new position in shares of LPL Financial during the second quarter worth $28,000. Ashton Thomas Securities LLC acquired a new position in shares of LPL Financial in the 3rd quarter valued at $31,000. Paladin Wealth LLC bought a new stake in shares of LPL Financial in the 3rd quarter valued at $34,000. Finally, Crewe Advisors LLC raised its stake in LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after buying an additional 101 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on LPLA shares. TD Cowen increased their price target on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Morgan Stanley increased their target price on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays lifted their price target on shares of LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $286.92.

LPL Financial Stock Performance

LPLA opened at $325.72 on Thursday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The business’s 50-day simple moving average is $267.99 and its 200 day simple moving average is $253.81. The firm has a market capitalization of $24.39 billion, a PE ratio of 24.61, a PEG ratio of 1.59 and a beta of 0.85. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $330.72.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the business posted $3.74 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

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.