Daiwa Securities Group Inc. trimmed its stake in LPL Financial Holdings Inc (NASDAQ:LPLA) by 26.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,836 shares of the financial services provider’s stock after selling 31,820 shares during the period. Daiwa Securities Group Inc.’s holdings in LPL Financial were worth $5,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in LPLA. UBS Group AG increased its holdings in LPL Financial by 12.3% in the first quarter. UBS Group AG now owns 46,484 shares of the financial services provider’s stock valued at $2,838,000 after purchasing an additional 5,092 shares during the last quarter. Guggenheim Capital LLC increased its holdings in LPL Financial by 12.7% in the first quarter. Guggenheim Capital LLC now owns 31,681 shares of the financial services provider’s stock valued at $1,935,000 after purchasing an additional 3,565 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in LPL Financial by 36.7% in the first quarter. Allianz Asset Management GmbH now owns 328,844 shares of the financial services provider’s stock valued at $20,083,000 after purchasing an additional 88,242 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in LPL Financial by 32.3% in the second quarter. State of Alaska Department of Revenue now owns 10,740 shares of the financial services provider’s stock valued at $703,000 after purchasing an additional 2,620 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its stake in LPL Financial by 25.3% in the second quarter. Xact Kapitalforvaltning AB now owns 12,381 shares of the financial services provider’s stock valued at $811,000 after acquiring an additional 2,500 shares during the period. 94.47% of the stock is owned by institutional investors.
NASDAQ:LPLA opened at $63.38 on Wednesday. LPL Financial Holdings Inc has a 1 year low of $48.13 and a 1 year high of $73.28. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.43. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 0.81 and a beta of 1.59.
LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, October 25th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.08. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.30 billion. LPL Financial had a return on equity of 41.69% and a net margin of 7.68%. As a group, equities research analysts anticipate that LPL Financial Holdings Inc will post 5.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Thursday, November 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.58%. LPL Financial’s dividend payout ratio is currently 33.33%.
A number of research firms have issued reports on LPLA. ValuEngine cut LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Zacks Investment Research cut LPL Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $83.00 target price on shares of LPL Financial in a research note on Friday, July 27th. Morgan Stanley decreased their target price on LPL Financial from $74.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, July 12th. Finally, BidaskClub cut LPL Financial from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $78.18.
In other news, Director Michelle Oroschakoff sold 6,000 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $67.11, for a total transaction of $402,660.00. Following the completion of the transaction, the director now directly owns 19,811 shares of the company’s stock, valued at $1,329,516.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.
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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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