LPL Financial Holdings Inc. (LPLA) Stake Lowered by 361 Capital LLC

361 Capital LLC lowered its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 52.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 44,142 shares of the financial services provider’s stock after selling 48,962 shares during the quarter. 361 Capital LLC’s holdings in LPL Financial Holdings were worth $2,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of LPL Financial Holdings in the 2nd quarter valued at about $104,000. Public Employees Retirement Association of Colorado increased its holdings in shares of LPL Financial Holdings by 1.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 52 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of LPL Financial Holdings by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 211 shares during the last quarter. Comerica Bank purchased a new position in shares of LPL Financial Holdings in the 3rd quarter valued at about $200,000. Finally, World Asset Management Inc purchased a new position in shares of LPL Financial Holdings in the 3rd quarter valued at about $239,000. Institutional investors and hedge funds own 90.26% of the company’s stock.

Shares of LPL Financial Holdings Inc. (NASDAQ LPLA) traded up $0.64 during mid-day trading on Friday, hitting $49.32. The company’s stock had a trading volume of 592,200 shares, compared to its average volume of 722,825. LPL Financial Holdings Inc. has a one year low of $34.01 and a one year high of $53.92. The stock has a market cap of $4,450.00, a P/E ratio of 19.55, a P/E/G ratio of 1.62 and a beta of 1.89. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.54.

LPL Financial Holdings (NASDAQ:LPLA) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. LPL Financial Holdings had a return on equity of 26.03% and a net margin of 5.19%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the business posted $0.58 EPS. The company’s revenue was up 4.6% on a year-over-year basis. research analysts expect that LPL Financial Holdings Inc. will post 2.31 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Thursday, November 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.03%. LPL Financial Holdings’s dividend payout ratio (DPR) is currently 42.37%.

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A number of research analysts recently issued reports on LPLA shares. Zacks Investment Research downgraded LPL Financial Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. SunTrust Banks, Inc. restated a “buy” rating and set a $65.00 price target on shares of LPL Financial Holdings in a research note on Friday, October 27th. BidaskClub upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Citigroup Inc. raised their price target on LPL Financial Holdings from $60.50 to $65.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, Morgan Stanley raised their price target on LPL Financial Holdings from $39.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $53.20.

LPL Financial Holdings Profile

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

Institutional Ownership by Quarter for LPL Financial Holdings (NASDAQ:LPLA)

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