ASB Consultores LLC Sells 642 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

ASB Consultores LLC lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 46.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 736 shares of the financial services provider’s stock after selling 642 shares during the quarter. ASB Consultores LLC’s holdings in LPL Financial were worth $206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of LPLA. Bridges Investment Management Inc. purchased a new stake in shares of LPL Financial during the second quarter worth about $321,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of LPL Financial by 0.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,875 shares of the financial services provider’s stock worth $2,184,000 after acquiring an additional 74 shares during the period. Mutual of America Capital Management LLC acquired a new position in LPL Financial in the second quarter valued at approximately $996,000. Dimensional Fund Advisors LP boosted its holdings in LPL Financial by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 782,006 shares of the financial services provider’s stock worth $218,405,000 after buying an additional 59,819 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of LPL Financial by 11.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider’s stock worth $247,077,000 after acquiring an additional 90,020 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price target 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. Barclays decreased 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 report on Friday, July 26th. UBS Group reduced their price target on shares of LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Jefferies Financial Group increased their price objective on LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, Bank of America upgraded shares of 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $275.27.

LPL Financial Trading Down 2.4 %

Shares of LPL Financial stock opened at $215.52 on Friday. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $289.88. The company has a market capitalization of $16.10 billion, a P/E ratio of 16.28, a PEG ratio of 1.20 and a beta of 0.88. The company’s fifty day moving average is $216.25 and its two-hundred day moving average is $251.88. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The firm 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 earned $3.94 earnings per share. The firm’s revenue was up 18.8% compared to the same quarter last year. Analysts forecast that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, August 9th. LPL Financial’s payout ratio is 9.06%.

LPL Financial 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.