LPL Financial Holdings Inc. (NASDAQ:LPLA) Position Cut by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lowered its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,436 shares of the financial services provider’s stock after selling 126 shares during the period. Valley Wealth Managers Inc.’s holdings in LPL Financial were worth $401,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of LPL Financial by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock valued at $1,625,446,000 after acquiring an additional 48,439 shares in the last quarter. Boston Partners boosted 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 worth $466,434,000 after buying an additional 738,509 shares during the period. TD Asset Management Inc grew its holdings in shares of LPL Financial by 33.2% during the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock valued at $291,586,000 after buying an additional 275,286 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in LPL Financial by 2.5% in the 1st quarter. Bank of New York Mellon Corp now owns 970,749 shares of the financial services provider’s stock worth $256,472,000 after acquiring an additional 23,890 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in LPL Financial by 19.8% during the 1st 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 period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LPLA shares. Wells Fargo & Company assumed coverage on LPL Financial in a report on Thursday. They issued an “equal weight” rating and a $235.00 target price on the stock. Keefe, Bruyette & Woods lowered their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. UBS Group lowered their price target on LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Barclays cut their price target on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $275.27.

LPL Financial Stock Down 0.6 %

LPL Financial stock opened at $205.71 on Friday. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $289.88. The company has a 50 day moving average of $223.27 and a 200-day moving average of $254.20. The stock has a market capitalization of $15.38 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the firm posted $3.94 EPS. LPL Financial’s revenue was up 18.8% compared to the same quarter last year. On average, equities research analysts anticipate that LPL Financial Holdings Inc. will post 15.9 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Friday, August 9th. LPL Financial’s dividend payout ratio is 9.06%.

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.