LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,244 shares of the financial services provider’s stock after selling 548 shares during the period. Pitcairn Co.’s holdings in LPL Financial were worth $1,453,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new stake in LPL Financial during the 2nd quarter worth approximately $25,000. Key Financial Inc purchased a new stake in LPL Financial during the 2nd quarter worth approximately $28,000. Crewe Advisors LLC increased its holdings in LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 101 shares during the last quarter. Tortoise Investment Management LLC increased its holdings in LPL Financial by 74.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in LPL Financial during the 3rd quarter worth approximately $31,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LPLA shares. Barclays boosted their price target on LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Citigroup boosted their price target on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group lowered their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. Bank of America upgraded 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, JMP Securities restated a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Price Performance

NASDAQ LPLA opened at $326.85 on Friday. The company has a 50 day moving average price of $263.32 and a two-hundred day moving average price of $253.18. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $327.55. The stock has a market capitalization of $24.47 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.58 and a beta of 0.85. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.47. The company had revenue of $3.11 billion during 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 firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.74 EPS. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

LPL Financial 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 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.