LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 66.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,153 shares of the financial services provider’s stock after selling 2,306 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in LPL Financial were worth $268,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in LPL Financial by 9.9% in the 2nd 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 position in shares of LPL Financial by 71.9% in the first 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 during the last quarter. Samlyn Capital LLC lifted its stake in shares of LPL Financial by 8.0% in the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock worth $333,684,000 after buying an additional 88,635 shares in the last quarter. Epoch Investment Partners Inc. boosted its position in LPL Financial by 19.8% during the first quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock worth $245,011,000 after acquiring an additional 153,072 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in 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. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Trading Down 0.8 %

Shares of LPLA stock opened at $314.68 on Thursday. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $321.92. The firm has a market cap of $23.56 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.55 and a beta of 0.85. The company has a 50-day moving average of $248.20 and a two-hundred day moving average of $250.73. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $3.74 EPS. On average, analysts predict that LPL Financial Holdings Inc. will post 16.08 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. LPL Financial’s dividend payout ratio is presently 9.02%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup raised their target price on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research note on Wednesday, October 9th. Jefferies Financial Group reduced their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, UBS Group upped their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.