LPL Financial Holdings Inc. $LPLA Shares Sold by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc reduced its stake in LPL Financial Holdings by 16.8% in the second quarter, owning approximately 0.05% of the company post-sale.
• Recent analyst reports show a range of price target adjustments, with Barclays lowering its target from $460.00 to $411.00 and Wells Fargo increasing it from $402.00 to $420.00.
• LPL Financial announced a quarterly dividend of $0.30 per share, yielding 0.4%, with a payout ratio of 8.21%.

AEGON ASSET MANAGEMENT UK Plc reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 16.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,058 shares of the financial services provider's stock after selling 8,300 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned about 0.05% of LPL Financial worth $15,394,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in LPL Financial in the 1st quarter valued at $26,000. Millstone Evans Group LLC grew its holdings in LPL Financial by 123.1% in the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after buying an additional 48 shares in the last quarter. Private Trust Co. NA grew its holdings in LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after buying an additional 68 shares in the last quarter. TCTC Holdings LLC grew its holdings in LPL Financial by 116.7% in the 1st quarter. TCTC Holdings LLC now owns 104 shares of the financial services provider's stock valued at $34,000 after buying an additional 56 shares in the last quarter. Finally, Maseco LLP purchased a new stake in LPL Financial in the 2nd quarter valued at $34,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at LPL Financial

In other news, Director Aneri Jambusaria sold 80 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the completion of the transaction, the director directly owned 5,582 shares of the company's stock, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Greg Gates sold 1,500 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $338.21, for a total value of $507,315.00. Following the transaction, the director directly owned 17,620 shares of the company's stock, valued at approximately $5,959,260.20. This represents a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,830 shares of company stock valued at $1,333,105 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LPLA has been the subject of several analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of LPL Financial in a report on Wednesday, October 8th. Barclays lowered their price target on LPL Financial from $460.00 to $411.00 and set an "overweight" rating for the company in a report on Wednesday, October 8th. Wells Fargo & Company increased their price target on LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods increased their price target on LPL Financial from $425.00 to $435.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Finally, Morgan Stanley lowered their price target on LPL Financial from $490.00 to $462.00 and set an "overweight" rating for the company in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $395.85.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $320.99 on Wednesday. The business has a 50-day moving average of $345.12 and a 200 day moving average of $353.04. LPL Financial Holdings Inc. has a 12 month low of $251.74 and a 12 month high of $403.58. The stock has a market capitalization of $25.68 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 0.74 and a beta of 0.61. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22.

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

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, August 15th. LPL Financial's dividend payout ratio (DPR) is 8.21%.

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.

Want to see what other hedge funds are holding LPLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.