MAI Capital Management Reduces Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

MAI Capital Management decreased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 56.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,676 shares of the financial services provider’s stock after selling 3,424 shares during the period. MAI Capital Management’s holdings in LPL Financial were worth $622,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC lifted its position in shares of LPL Financial by 533.8% during the first quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 4,340 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in shares of LPL Financial by 83.3% during the first quarter. UniSuper Management Pty Ltd now owns 1,100 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 500 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of LPL Financial by 52.3% during the first quarter. Axxcess Wealth Management LLC now owns 2,217 shares of the financial services provider’s stock worth $586,000 after acquiring an additional 761 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of LPL Financial during the first quarter worth $1,619,000. Finally, Lazard Asset Management LLC lifted its position in shares of LPL Financial by 1,640.7% during the first quarter. Lazard Asset Management LLC now owns 940 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 886 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

LPLA has been the subject of several research analyst reports. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. TD Cowen lifted their price objective on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Barclays lifted their price objective on LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Bank of America raised LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective for the company in a research note on Tuesday, July 30th. Finally, Morgan Stanley lifted their price objective on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, LPL Financial has an average rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Stock Up 1.1 %

LPLA opened at $326.85 on Friday. The company has a market cap of $24.47 billion, a P/E ratio of 24.50, a P/E/G ratio of 1.54 and a beta of 0.85. The business’s 50-day moving average price is $260.89 and its 200-day moving average price is $252.81. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $327.55.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.74 earnings per share. On average, equities analysts expect that LPL Financial Holdings Inc. will post 16.08 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. LPL Financial’s dividend payout ratio is currently 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.