LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. decreased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 9.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,458 shares of the financial services provider's stock after selling 2,902 shares during the quarter. Asset Management One Co. Ltd.'s holdings in LPL Financial were worth $9,310,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Boston Partners boosted its stake in shares of LPL Financial by 26.0% in the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock worth $1,278,454,000 after buying an additional 805,637 shares during the last quarter. Janus Henderson Group PLC raised its holdings in LPL Financial by 20.6% in the 4th quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock worth $996,032,000 after purchasing an additional 522,032 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in LPL Financial by 2.2% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider's stock worth $868,757,000 after purchasing an additional 57,485 shares during the period. Geode Capital Management LLC raised its holdings in LPL Financial by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider's stock worth $475,946,000 after purchasing an additional 23,111 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in LPL Financial by 57.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider's stock worth $364,290,000 after purchasing an additional 405,341 shares during the period. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Price Performance

Shares of LPLA stock traded up $0.59 during trading hours on Friday, reaching $364.96. The company had a trading volume of 1,350,998 shares, compared to its average volume of 845,114. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31. The stock has a fifty day moving average of $361.67 and a 200-day moving average of $346.53. The company has a market capitalization of $29.19 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 1.00 and a beta of 0.67. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.54 by $0.61. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The business's revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned $3.83 earnings per share. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were given a $0.30 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.33%. LPL Financial's dividend payout ratio (DPR) is presently 8.30%.

Analysts Set New Price Targets

A number of research firms recently weighed in on LPLA. Wells Fargo & Company reduced their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and upped their price target for the stock from $420.00 to $460.00 in a report on Monday, June 9th. Barclays upped their price target on LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Morgan Stanley boosted their price objective on LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, LPL Financial has an average rating of "Moderate Buy" and a consensus price target of $387.69.

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.