LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lowered its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 24.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 36,370 shares of the financial services provider’s stock after selling 12,084 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in LPL Financial were worth $10,158,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of LPL Financial in the second quarter worth about $25,000. Key Financial Inc acquired a new position in LPL Financial in the 2nd quarter worth approximately $28,000. Riverview Trust Co acquired a new position in LPL Financial in the 1st quarter worth approximately $30,000. Crewe Advisors LLC raised its position 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 last quarter. Finally, Tortoise Investment Management LLC lifted its stake in LPL Financial by 74.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Up 3.8 %

Shares of LPLA stock opened at $230.35 on Thursday. 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 cap of $17.21 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.27 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a 50 day simple moving average of $215.12 and a 200-day simple moving average of $250.91.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, topping 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 company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the business posted $3.94 earnings per share. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 15.88 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, August 9th. LPL Financial’s dividend payout ratio is presently 9.06%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LPLA. JMP Securities raised their target price on shares of LPL Financial from $305.00 to $310.00 and gave the stock a “market outperform” rating in a report on Friday, July 26th. UBS Group reduced their price objective on LPL Financial from $290.00 to $215.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods decreased their price objective on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Bank of America raised LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a report on Tuesday, July 30th. Finally, Wells Fargo & Company started coverage on LPL Financial in a report on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, LPL Financial presently has a consensus rating of “Hold” and a consensus target price of $275.27.

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.