Mn Services Vermogensbeheer B.V. Sells 2,300 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mn Services Vermogensbeheer B.V. lowered its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,500 shares of the financial services provider's stock after selling 2,300 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in LPL Financial were worth $8,996,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LPLA. Graney & King LLC bought a new position in LPL Financial in the 4th quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after acquiring an additional 39 shares during the period. City Holding Co. bought a new position in shares of LPL Financial in the first quarter worth $34,000. Fourth Dimension Wealth LLC bought a new position in shares of LPL Financial in the fourth quarter worth $40,000. Finally, Itau Unibanco Holding S.A. bought a new position in LPL Financial in the 4th quarter worth about $42,000. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Up 0.3%

Shares of LPLA traded up $1.28 on Wednesday, hitting $379.29. 475,356 shares of the stock traded hands, compared to its average volume of 837,970. The company has a market capitalization of $30.34 billion, a PE ratio of 26.25, a P/E/G ratio of 1.04 and a beta of 0.67. 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 business has a 50 day simple moving average of $353.23 and a 200 day simple moving average of $344.35. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $390.23.

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

LPL Financial Announces Dividend

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

Analyst Ratings Changes

LPLA has been the subject of a number of analyst reports. Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and raised their price objective for the company from $420.00 to $460.00 in a research report on Monday, June 9th. Morgan Stanley lifted their price target on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Wall Street Zen downgraded LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday. Wells Fargo & Company dropped their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, JMP Securities boosted their price objective on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.