Aureus Asset Management LLC Lowers Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Aureus Asset Management LLC lessened its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 21.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,505 shares of the financial services provider’s stock after selling 950 shares during the period. Aureus Asset Management LLC’s holdings in LPL Financial were worth $815,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LPLA. FMR LLC raised its position in shares of LPL Financial by 24.4% in the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after buying an additional 650,675 shares in the last quarter. Southpoint Capital Advisors LP raised its position in LPL Financial by 50.0% during the third quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock valued at $174,472,000 after purchasing an additional 250,000 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in LPL Financial by 9.9% during 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. Maverick Capital Ltd. raised its position in LPL Financial by 82.0% during the third quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after purchasing an additional 223,931 shares in the last quarter. Finally, Azora Capital LP raised its position in LPL Financial by 52.2% during the third quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock valued at $149,708,000 after purchasing an additional 220,622 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 0.2 %

Shares of NASDAQ:LPLA opened at $325.15 on Monday. 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 capitalization of $24.35 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $330.72. The stock’s 50-day moving average price is $274.56 and its 200-day moving average price is $255.03.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.47. The company 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%. LPL Financial’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $3.74 earnings per share. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. LPL Financial’s payout ratio is presently 9.02%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LPLA. Citigroup raised 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. Wells Fargo & Company upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $235.00 to $285.00 in a research report on Wednesday, October 9th. 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. Morgan Stanley raised their price target on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, TD Cowen raised their price target on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and a consensus target price of $290.83.

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.