LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock Position Lowered by James Investment Research Inc.

James Investment Research Inc. trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 47.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,275 shares of the financial services provider’s stock after selling 6,691 shares during the period. James Investment Research Inc.’s holdings in LPL Financial were worth $1,692,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Stephens Inc. AR raised its position in LPL Financial by 5.2% during the third quarter. Stephens Inc. AR now owns 1,054 shares of the financial services provider’s stock valued at $245,000 after buying an additional 52 shares during the period. United Asset Strategies Inc. increased its holdings in shares of LPL Financial by 2.7% in the 3rd quarter. United Asset Strategies Inc. now owns 11,236 shares of the financial services provider’s stock valued at $2,614,000 after purchasing an additional 292 shares during the period. Financial Advocates Investment Management acquired a new stake in shares of LPL Financial during the third quarter worth approximately $205,000. Iridian Asset Management LLC CT grew its position in LPL Financial by 77.7% during the third quarter. Iridian Asset Management LLC CT now owns 82,834 shares of the financial services provider’s stock valued at $19,270,000 after purchasing an additional 36,212 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in LPL Financial by 96.8% in the 3rd quarter. New York State Teachers Retirement System now owns 3,371 shares of the financial services provider’s stock valued at $784,000 after buying an additional 1,658 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Trading Down 0.5 %

Shares of LPL Financial stock opened at $280.81 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $291.67. The company’s fifty day simple moving average is $234.24 and its 200-day simple moving average is $248.48. The company has a market cap of $20.99 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.43 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the business earned $3.74 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 15.71 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.43%. LPL Financial’s payout ratio is 9.02%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LPLA. JMP Securities reaffirmed a “market outperform” rating and issued a $310.00 price target on shares of LPL Financial in a research note on Wednesday, October 9th. Wells Fargo & Company upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $235.00 to $285.00 in a research note on Wednesday, October 9th. Citigroup raised their price target on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America raised shares of 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, The Goldman Sachs Group upped their target price on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $286.92.

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 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.