DGS Capital Management LLC Lowers Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

DGS Capital Management LLC cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 14.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,290 shares of the financial services provider’s stock after selling 218 shares during the quarter. DGS Capital Management LLC’s holdings in LPL Financial were worth $300,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC purchased a new position in LPL Financial during the 2nd quarter worth $25,000. Key Financial Inc bought a new position in LPL Financial during the 2nd quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new position in LPL Financial during the 3rd quarter valued at about $31,000. Paladin Wealth LLC bought a new position in shares of LPL Financial during the third quarter valued at approximately $34,000. Finally, Crewe Advisors LLC increased its holdings in LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after buying an additional 101 shares during the period. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

LPLA opened at $330.23 on Friday. The firm has a 50 day moving average of $293.80 and a two-hundred day moving average of $258.97. The firm has a market capitalization of $24.73 billion, a PE ratio of 24.83, a P/E/G ratio of 1.61 and a beta of 0.86. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $334.38.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating the consensus estimate of $3.69 by $0.47. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.74 earnings per share. On average, analysts anticipate that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.36%. LPL Financial’s payout ratio is 9.02%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LPLA. Barclays upped their target price on LPL Financial from $311.00 to $378.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Wells Fargo & Company upped their price objective on LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research note on Wednesday, October 9th. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, Morgan Stanley lifted their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $305.17.

Insider Activity

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

About LPL Financial

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.