Epoch Investment Partners Inc. Sells 140,006 Shares of LPL Financial Holdings Inc. $LPLA

Key Points

• Epoch Investment Partners Inc. reduced its stake in LPL Financial Holdings Inc. by 19.3%, selling 140,006 shares in the first quarter, leaving them with 585,566 shares.
• LPL Financial reported earnings of $4.51 EPS for the last quarter, exceeding analysts' estimates of $4.21, with a revenue increase of 30.8% year-over-year.
• The company has declared a quarterly dividend of $0.30, representing a 0.3% dividend yield, set to be paid on August 29th.

Epoch Investment Partners Inc. cut its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 19.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 585,566 shares of the financial services provider's stock after selling 140,006 shares during the period. LPL Financial makes up approximately 1.0% of Epoch Investment Partners Inc.'s portfolio, making the stock its 19th biggest position. Epoch Investment Partners Inc. owned approximately 0.74% of LPL Financial worth $191,562,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Colonial Trust Co SC grew its stake in shares of LPL Financial by 6.1% in the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock valued at $165,000 after buying an additional 29 shares during the period. Koshinski Asset Management Inc. boosted its stake in LPL Financial by 4.9% during the 1st quarter. Koshinski Asset Management Inc. now owns 812 shares of the financial services provider's stock valued at $266,000 after purchasing an additional 38 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 39 shares during the last quarter. Millstone Evans Group LLC boosted its stake in LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 48 shares during the last quarter. Finally, Greenleaf Trust boosted its stake in LPL Financial by 0.5% during the 1st quarter. Greenleaf Trust now owns 9,395 shares of the financial services provider's stock valued at $3,073,000 after purchasing an additional 50 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Trading Down 0.6%

NASDAQ:LPLA opened at $360.43 on Tuesday. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $28.83 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 0.85 and a beta of 0.66. The firm's 50 day moving average is $373.04 and its 200 day moving average is $355.51. LPL Financial Holdings Inc. has a 12 month low of $204.41 and a 12 month high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $4.51 EPS for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. The company had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.77 billion. LPL Financial had a net margin of 7.91% and a return on equity of 39.80%. LPL Financial's revenue was up 30.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.88 EPS. Sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 15th. LPL Financial's payout ratio is 8.21%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley reiterated an "overweight" rating and set a $490.00 price target (up previously from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. Wells Fargo & Company lifted their price target on LPL Financial from $402.00 to $420.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Wall Street Zen downgraded LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and lifted their price target for the company from $420.00 to $460.00 in a research note on Monday, June 9th. Finally, TD Cowen downgraded LPL Financial from a "strong-buy" rating to a "hold" rating and cut their price target for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $383.58.

Insider Activity at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $374.05, for a total value of $561,075.00. Following the sale, the director owned 19,120 shares of the company's stock, valued at approximately $7,151,836. The trade was a 7.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company's stock.

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.

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