AEGON ASSET MANAGEMENT UK Plc Trims Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

AEGON ASSET MANAGEMENT UK Plc lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 17.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,358 shares of the financial services provider's stock after selling 10,683 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.07% of LPL Financial worth $16,146,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Truist Financial Corp raised its holdings in LPL Financial by 7.9% in the 4th quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock worth $62,740,000 after purchasing an additional 14,106 shares during the period. Bank of Montreal Can increased its position in LPL Financial by 46.9% in the fourth quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock worth $19,561,000 after buying an additional 19,126 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of LPL Financial by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock worth $109,625,000 after buying an additional 13,936 shares during the period. JPMorgan Chase & Co. lifted its position in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock valued at $296,635,000 after buying an additional 276,166 shares in the last quarter. Finally, Dynasty Wealth Management LLC raised its stake in LPL Financial by 58.8% during the 4th quarter. Dynasty Wealth Management LLC now owns 6,165 shares of the financial services provider's stock worth $2,013,000 after acquiring an additional 2,283 shares during the period. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Up 1.0%

Shares of NASDAQ:LPLA traded up $3.84 on Thursday, reaching $380.07. The company had a trading volume of 372,141 shares, compared to its average volume of 834,887. The firm has a market capitalization of $30.40 billion, a PE ratio of 27.07, a PEG ratio of 0.94 and a beta of 0.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $390.23. The firm's 50 day simple moving average is $339.22 and its 200-day simple moving average is $340.41.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.61. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.83 earnings per share. As a group, analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. LPL Financial's payout ratio is 8.30%.

Analysts Set New Price Targets

A number of equities research analysts have commented on LPLA shares. Citigroup decreased their price target on LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. JMP Securities boosted their price target on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Morgan Stanley increased their price objective on shares of LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Wells Fargo & Company lowered their target price on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Wall Street Zen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $377.50.

LPL Financial Company 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.