Advisors Asset Management Inc. Has $443,000 Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Advisors Asset Management Inc. trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 28.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,906 shares of the financial services provider’s stock after selling 767 shares during the period. Advisors Asset Management Inc.’s holdings in LPL Financial were worth $443,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of LPL Financial by 9.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after purchasing an additional 233,242 shares in the last quarter. Boston Partners raised its stake in shares of LPL Financial by 71.9% in the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after buying an additional 738,509 shares in the last quarter. Samlyn Capital LLC lifted its holdings in shares of LPL Financial by 8.0% during the 2nd quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock worth $333,684,000 after acquiring an additional 88,635 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of LPL Financial by 11.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider’s stock valued at $247,077,000 after acquiring an additional 90,020 shares in the last quarter. Finally, Darlington Partners Capital Management LP boosted its position in shares of LPL Financial by 9.5% during the 2nd quarter. Darlington Partners Capital Management LP now owns 783,290 shares of the financial services provider’s stock valued at $218,773,000 after acquiring an additional 68,276 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group decreased their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $235.00 to $285.00 in a research report on Wednesday, October 9th. TD Cowen lifted their target price on shares of LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, JMP Securities reiterated a “market outperform” rating and set a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and an average target price of $286.92.

LPL Financial Stock Down 0.5 %

Shares of LPLA opened at $325.72 on Thursday. The business’s fifty day moving average price is $267.99 and its two-hundred day moving average price is $253.81. The firm has a market capitalization of $24.39 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 1.59 and a beta of 0.85. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $330.72. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

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

LPL Financial Dividend Announcement

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