CGN Advisors LLC Has $2.20 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

CGN Advisors LLC cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 10.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,717 shares of the financial services provider's stock after selling 811 shares during the period. CGN Advisors LLC's holdings in LPL Financial were worth $2,197,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in LPL Financial during the 4th quarter worth approximately $305,747,000. Raymond James Financial Inc. bought a new position in LPL Financial during the 4th quarter worth $295,982,000. Boston Partners lifted its holdings in shares of LPL Financial by 26.0% during 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 in the last quarter. Janus Henderson Group PLC boosted its position in shares of LPL Financial by 20.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock valued at $996,032,000 after acquiring an additional 522,032 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of LPL Financial in the fourth quarter valued at about $153,946,000. Institutional investors own 95.66% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on LPLA shares. Wells Fargo & Company cut their price objective on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup dropped their price objective on LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley increased their target price on LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Wall Street Zen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Finally, Barclays raised their price target on shares of LPL Financial from $365.00 to $400.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Thirteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, LPL Financial presently has an average rating of "Buy" and a consensus price target of $377.50.

LPL Financial Trading Down 2.5%

NASDAQ:LPLA traded down $9.78 on Wednesday, reaching $376.23. 498,224 shares of the stock traded hands, compared to its average volume of 836,073. 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 company's 50 day moving average is $338.44 and its 200-day moving average is $340.16. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $390.23. The firm has a market capitalization of $30.09 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter last year, the firm posted $3.83 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. LPL Financial's dividend payout ratio is currently 8.30%.

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.