Point72 DIFC Ltd Has $889,000 Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Point72 DIFC Ltd lowered its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 67.4% in the second quarter, HoldingsChannel.com reports. The fund owned 3,183 shares of the financial services provider’s stock after selling 6,573 shares during the quarter. Point72 DIFC Ltd’s holdings in LPL Financial were worth $889,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial in the second quarter valued at about $25,000. Key Financial Inc acquired a new position in shares of LPL Financial during the 2nd quarter worth about $28,000. Riverview Trust Co bought a new position in shares of LPL Financial in the 1st quarter valued at about $30,000. Crewe Advisors LLC raised its holdings in LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 101 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its position in LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LPLA shares. Wells Fargo & Company assumed coverage on LPL Financial in a report on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. 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 report on Tuesday, July 30th. TD Cowen boosted their price target on LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Barclays lowered their price objective on LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, LPL Financial currently has a consensus rating of “Hold” and an average price target of $275.27.

LPL Financial Trading Up 3.8 %

LPLA opened at $230.35 on Thursday. The company’s 50 day moving average is $215.12 and its 200-day moving average is $250.91. The company has a market cap of $17.21 billion, a P/E ratio of 17.40, a PEG ratio of 1.27 and a beta of 0.88. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $289.88. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77.

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. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.94 EPS. Equities research analysts predict that LPL Financial Holdings Inc. will post 15.88 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.52%. LPL Financial’s dividend payout ratio (DPR) is 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.