Acadian Asset Management LLC lessened its holdings in LPL Financial Holdings Inc (NASDAQ:LPLA) by 54.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,571 shares of the financial services provider’s stock after selling 1,893 shares during the quarter. Acadian Asset Management LLC’s holdings in LPL Financial were worth $128,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. WINTON GROUP Ltd boosted its holdings in shares of LPL Financial by 1.4% in the 2nd quarter. WINTON GROUP Ltd now owns 10,199 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 143 shares in the last quarter. Teza Capital Management LLC boosted its holdings in shares of LPL Financial by 1.7% in the 1st quarter. Teza Capital Management LLC now owns 9,095 shares of the financial services provider’s stock valued at $633,000 after purchasing an additional 150 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of LPL Financial by 8.4% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,600 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 280 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of LPL Financial by 131.8% in the 1st quarter. Advisory Services Network LLC now owns 605 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 344 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of LPL Financial in the 2nd quarter valued at $34,000. 94.57% of the stock is currently owned by hedge funds and other institutional investors.
LPLA has been the topic of a number of research analyst reports. BidaskClub raised LPL Financial from a “sell” rating to a “hold” rating in a report on Thursday. ValuEngine raised LPL Financial from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research downgraded LPL Financial from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Citigroup cut their price objective on LPL Financial from $102.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Credit Suisse Group raised their price objective on LPL Financial from $108.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. LPL Financial has a consensus rating of “Hold” and an average price target of $87.19.
In other LPL Financial news, insider Michelle Oroschakoff sold 5,000 shares of LPL Financial stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $71.67, for a total transaction of $358,350.00. Following the transaction, the insider now directly owns 14,297 shares of the company’s stock, valued at approximately $1,024,665.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dan H. Arnold sold 48,159 shares of LPL Financial stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $80.00, for a total value of $3,852,720.00. Following the transaction, the chief executive officer now directly owns 227,784 shares in the company, valued at $18,222,720. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,526 shares of company stock worth $9,234,790. 2.20% of the stock is currently owned by company insiders.
NASDAQ LPLA opened at $81.91 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.55. LPL Financial Holdings Inc has a twelve month low of $52.03 and a twelve month high of $89.89. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The business’s fifty day moving average is $76.85 and its 200 day moving average is $78.17.
LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. LPL Financial had a return on equity of 57.63% and a net margin of 9.77%. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the business posted $1.30 EPS. LPL Financial’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts anticipate that LPL Financial Holdings Inc will post 7.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, August 12th. LPL Financial’s dividend payout ratio (DPR) is 18.76%.
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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