Primecap Management Co. CA Sells 193,500 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Primecap Management Co. CA cut its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 82.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,900 shares of the financial services provider’s stock after selling 193,500 shares during the quarter. Primecap Management Co. CA owned approximately 0.05% of LPL Financial worth $9,515,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in shares of LPL Financial by 533.8% during the first quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock valued at $1,359,000 after purchasing an additional 4,340 shares during the last quarter. UniSuper Management Pty Ltd increased its position in LPL Financial by 83.3% during the 1st 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 in the last quarter. Axxcess Wealth Management LLC raised its stake in LPL Financial by 52.3% during the first quarter. Axxcess Wealth Management LLC now owns 2,217 shares of the financial services provider’s stock valued at $586,000 after buying an additional 761 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of LPL Financial in the first quarter worth $1,619,000. Finally, Lazard Asset Management LLC increased its holdings in shares of LPL Financial by 1,640.7% during the first quarter. Lazard Asset Management LLC now owns 940 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 886 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Keefe, Bruyette & Woods cut 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. Barclays boosted their price objective on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. UBS Group increased their target price on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Finally, TD Cowen boosted their price target on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $286.92.

LPL Financial Stock Up 1.1 %

LPLA stock opened at $326.85 on Friday. The company has a market cap of $24.47 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 1.54 and a beta of 0.85. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The business’s 50-day moving average is $260.89 and its two-hundred day moving average is $252.81. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $327.55.

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

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend payout ratio (DPR) is 9.02%.

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.