Price T Rowe Associates Inc. MD Has $627.42 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Price T Rowe Associates Inc. MD reduced its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,374,801 shares of the financial services provider’s stock after selling 81,250 shares during the quarter. Price T Rowe Associates Inc. MD owned about 3.18% of LPL Financial worth $627,423,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LPLA. Raymond James Financial Services Advisors Inc. lifted its stake in shares of LPL Financial by 66.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,219 shares of the financial services provider’s stock worth $2,098,000 after acquiring an additional 3,691 shares during the period. Quent Capital LLC lifted its stake in shares of LPL Financial by 12.5% in the fourth quarter. Quent Capital LLC now owns 872 shares of the financial services provider’s stock worth $198,000 after acquiring an additional 97 shares during the period. Foster Victor Wealth Advisors LLC lifted its stake in shares of LPL Financial by 4.3% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 44,244 shares of the financial services provider’s stock worth $10,511,000 after acquiring an additional 1,833 shares during the period. State of Michigan Retirement System lifted its stake in LPL Financial by 21.4% in the fourth quarter. State of Michigan Retirement System now owns 1,700 shares of the financial services provider’s stock valued at $387,000 after buying an additional 300 shares during the period. Finally, Integrated Investment Consultants LLC lifted its stake in LPL Financial by 26.9% in the fourth quarter. Integrated Investment Consultants LLC now owns 5,661 shares of the financial services provider’s stock valued at $1,289,000 after buying an additional 1,199 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LPLA has been the topic of several recent analyst reports. JMP Securities boosted their price target on LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a research note on Friday. Barclays dropped their price target on LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. boosted their price target on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Jefferies Financial Group boosted their price target on LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Finally, Keefe, Bruyette & Woods dropped their price target on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $283.30.

LPL Financial Stock Down 2.2 %

Shares of NASDAQ:LPLA traded down $4.82 during trading on Monday, reaching $216.42. 179,064 shares of the stock were exchanged, compared to its average volume of 668,862. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84. LPL Financial Holdings Inc. has a 1-year low of $200.18 and a 1-year high of $289.88. The stock has a fifty day moving average of $268.42 and a two-hundred day moving average of $262.05. The firm has a market cap of $16.17 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 0.88 and a beta of 0.90.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.22. LPL Financial had a return on equity of 54.38% and a net margin of 8.91%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the company posted $3.94 earnings per share. LPL Financial’s revenue was up 18.8% compared to the same quarter last year. Research analysts anticipate that LPL Financial Holdings Inc. will post 15.76 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.55%. LPL Financial’s dividend payout ratio (DPR) is currently 9.06%.

Insider Buying and Selling

In related news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the completion of the sale, the chief executive officer now owns 142,608 shares in the company, valued at $39,546,624.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

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.