Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,842 shares of the financial services provider’s stock after selling 7,313 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.11% of LPL Financial worth $20,638,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its stake in LPL Financial by 218,199.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 95,191,655 shares of the financial services provider’s stock valued at $20,577,580,000 after acquiring an additional 95,148,049 shares during the last quarter. Capital Research Global Investors grew its stake in shares of LPL Financial by 117.8% during the second quarter. Capital Research Global Investors now owns 2,197,845 shares of the financial services provider’s stock worth $477,880,000 after buying an additional 1,188,739 shares during the last quarter. Norges Bank bought a new stake in shares of LPL Financial during the fourth quarter worth $217,799,000. Boston Partners grew its stake in shares of LPL Financial by 1,264.4% during the second quarter. Boston Partners now owns 847,460 shares of the financial services provider’s stock worth $184,296,000 after buying an additional 785,347 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of LPL Financial by 1,732.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 568,292 shares of the financial services provider’s stock worth $135,055,000 after buying an additional 537,272 shares during the last quarter. 92.84% of the stock is owned by institutional investors.
Analysts Set New Price Targets
LPLA has been the topic of a number of research reports. Morgan Stanley decreased their target price on shares of LPL Financial from $260.00 to $252.00 and set an “equal weight” rating on the stock in a research note on Monday, October 30th. UBS Group lifted their price target on shares of LPL Financial from $245.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. TD Cowen started coverage on shares of LPL Financial in a report on Thursday, January 4th. They set a “market perform” rating and a $224.00 price target on the stock. JMP Securities reiterated a “market outperform” rating and set a $290.00 price target on shares of LPL Financial in a report on Friday, February 2nd. Finally, Redburn Atlantic started coverage on shares of LPL Financial in a report on Friday, December 1st. They set a “neutral” rating and a $240.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $251.45.
LPL Financial Price Performance
LPLA stock opened at $248.13 on Monday. The firm has a market cap of $18.76 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 0.72 and a beta of 0.83. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.49. LPL Financial Holdings Inc. has a 12-month low of $179.00 and a 12-month high of $259.27. The company’s fifty day simple moving average is $231.87 and its 200 day simple moving average is $230.88.
LPL Financial (NASDAQ:LPLA – Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.30%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the business earned $4.21 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, analysts expect that LPL Financial Holdings Inc. will post 15.96 earnings per share for the current year.
LPL Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.48%. LPL Financial’s dividend payout ratio is currently 8.79%.
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, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.
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