Raymond James & Associates Sells 60,523 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Raymond James & Associates lowered its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 15.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,568 shares of the financial services provider’s stock after selling 60,523 shares during the period. Raymond James & Associates owned approximately 0.45% of LPL Financial worth $77,598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DGS Capital Management LLC boosted its position in shares of LPL Financial by 2.8% in the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 44 shares in the last quarter. Tortoise Investment Management LLC grew its stake in shares of LPL Financial by 74.7% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 56 shares during the last quarter. King Luther Capital Management Corp grew its stake in shares of LPL Financial by 1.0% in the second quarter. King Luther Capital Management Corp now owns 5,860 shares of the financial services provider’s stock worth $1,637,000 after acquiring an additional 56 shares during the last quarter. Gulf International Bank UK Ltd increased its holdings in shares of LPL Financial by 0.9% during the first quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock valued at $1,693,000 after acquiring an additional 60 shares in the last quarter. Finally, LVW Advisors LLC raised its position in shares of LPL Financial by 1.9% in the 1st quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock worth $857,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

NASDAQ LPLA opened at $258.62 on Monday. The company has a 50-day moving average price of $225.63 and a 200-day moving average price of $248.11. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $289.88. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $19.32 billion, a P/E ratio of 19.53, a PEG ratio of 1.32 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.66 by $0.22. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the firm earned $3.94 earnings per share. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 15.79 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors 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 annualized dividend and a yield of 0.46%. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Citigroup reduced their price target on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Jefferies Financial Group lowered their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Keefe, Bruyette & Woods reduced their target price on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, TD Cowen upped their price target on LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $277.77.

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.