LPL Financial Holdings Inc (LPLA) Position Lessened by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in LPL Financial Holdings Inc (NASDAQ:LPLA) by 11.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 262,588 shares of the financial services provider’s stock after selling 32,953 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.30% of LPL Financial worth $16,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of LPLA. American Century Companies Inc. bought a new stake in shares of LPL Financial in the third quarter worth about $47,906,000. Renaissance Technologies LLC grew its stake in shares of LPL Financial by 58.6% in the second quarter. Renaissance Technologies LLC now owns 1,219,400 shares of the financial services provider’s stock worth $79,919,000 after purchasing an additional 450,500 shares during the last quarter. FMR LLC grew its stake in shares of LPL Financial by 34.4% in the second quarter. FMR LLC now owns 1,456,514 shares of the financial services provider’s stock worth $95,460,000 after purchasing an additional 372,986 shares during the last quarter. Soros Fund Management LLC grew its stake in shares of LPL Financial by 106.6% in the second quarter. Soros Fund Management LLC now owns 571,971 shares of the financial services provider’s stock worth $37,487,000 after purchasing an additional 295,171 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in shares of LPL Financial by 12.4% in the third quarter. Frontier Capital Management Co. LLC now owns 2,524,046 shares of the financial services provider’s stock worth $162,826,000 after purchasing an additional 277,854 shares during the last quarter. 92.07% of the stock is currently owned by institutional investors.

In related news, Director George Burton White sold 23,893 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $66.00, for a total value of $1,576,938.00. Following the completion of the transaction, the director now directly owns 50,582 shares in the company, valued at approximately $3,338,412. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michelle Oroschakoff sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $63.00, for a total transaction of $378,000.00. Following the completion of the transaction, the insider now owns 19,811 shares of the company’s stock, valued at $1,248,093. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,143 shares of company stock valued at $1,971,038. 2.60% of the stock is owned by company insiders.

Several analysts recently issued reports on the company. Goldman Sachs Group assumed coverage on LPL Financial in a research note on Tuesday, November 27th. They issued a “conviction-buy” rating on the stock. Morgan Stanley cut their target price on LPL Financial from $71.00 to $66.00 and set a “hold” rating on the stock in a research note on Wednesday, November 14th. BidaskClub raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Citigroup lifted their price objective on LPL Financial from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, October 30th. Finally, Credit Suisse Group cut their price objective on LPL Financial from $91.00 to $88.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $77.82.

LPLA stock opened at $60.13 on Thursday. LPL Financial Holdings Inc has a 52-week low of $52.03 and a 52-week high of $73.28. The company has a market cap of $5.21 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 0.77 and a beta of 1.59. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.43.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 25th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.08. LPL Financial had a net margin of 7.68% and a return on equity of 41.69%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.30 billion. Sell-side analysts predict that LPL Financial Holdings Inc will post 5.19 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 26th. Investors of record on Thursday, November 8th were issued a $0.25 dividend. The ex-dividend date was Wednesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.66%. LPL Financial’s payout ratio is currently 33.33%.

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

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