LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 19.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 710,367 shares of the financial services provider’s stock after selling 174,263 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.95% of LPL Financial worth $165,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UniSuper Management Pty Ltd raised its holdings in shares of LPL Financial by 83.3% during the first quarter. UniSuper Management Pty Ltd now owns 1,100 shares of the financial services provider’s stock valued at $291,000 after buying an additional 500 shares during the last quarter. Axxcess Wealth Management LLC raised its stake in LPL Financial by 52.3% during the 1st quarter. Axxcess Wealth Management LLC now owns 2,217 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 761 shares in the last quarter. Quadrature Capital Ltd acquired a new position in LPL Financial during the 1st quarter worth $1,619,000. Lazard Asset Management LLC grew its stake in shares of LPL Financial by 1,640.7% in the first quarter. Lazard Asset Management LLC now owns 940 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 886 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of LPL Financial during the first quarter valued at $461,000. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Trading Up 1.1 %

Shares of NASDAQ LPLA opened at $326.85 on Friday. The business has a fifty day simple moving average of $263.32 and a 200-day simple moving average of $253.18. The company has a market cap of $24.47 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 1.58 and a beta of 0.85. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $327.55. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last posted 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. The company had revenue of $3.11 billion during 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 business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.74 earnings per share. Sell-side 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 paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Thursday, November 14th. LPL Financial’s dividend payout ratio is 9.02%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LPLA. Citigroup upped their price objective on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen boosted their target price on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price for the company in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group lowered their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. One 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $286.92.

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.