Eagle Asset Management Inc. Sells 61,990 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Eagle Asset Management Inc. trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 9.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 591,233 shares of the financial services provider’s stock after selling 61,990 shares during the quarter. Eagle Asset Management Inc.’s holdings in LPL Financial were worth $137,539,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of LPL Financial during the second quarter worth about $25,000. Key Financial Inc acquired a new stake in shares of LPL Financial in the 2nd quarter valued at about $28,000. Crewe Advisors LLC lifted its holdings in shares of LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares in the last quarter. Tortoise Investment Management LLC grew its holdings in shares of LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after buying an additional 56 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in LPL Financial in the 3rd quarter valued at approximately $31,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Up 2.0 %

Shares of LPLA stock opened at $323.24 on Friday. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $326.76. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market cap of $24.20 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 1.54 and a beta of 0.85. The stock has a 50-day moving average of $258.57 and a 200-day moving average of $252.31.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results 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. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the business posted $3.74 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. LPL Financial’s payout ratio is presently 9.02%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. UBS Group raised their price objective on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Citigroup increased their price target on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley upped their price target 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $286.92.

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.