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

Key Points

• Tokio Marine Asset Management Co. Ltd. reduced its holdings in LPL Financial by 13.4%, selling 5,903 shares to end the quarter with 38,181 shares valued at approximately $12.49 million.
• LPL Financial reported a 4.51 EPS for the latest quarter, surpassing analysts' expectations, with revenue of $3.84 billion, reflecting a 30.8% year-over-year increase.
• The company declared a quarterly dividend of $0.30 per share, with a payout ratio of 8.21%, to be distributed on August 29th to shareholders of record as of August 15th.

Tokio Marine Asset Management Co. Ltd. lessened its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 13.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,181 shares of the financial services provider's stock after selling 5,903 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in LPL Financial were worth $12,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of LPLA. Millstone Evans Group LLC increased its position in shares of LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock worth $28,000 after purchasing an additional 48 shares during the last quarter. Private Trust Co. NA grew its position 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 acquiring an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in LPL Financial by 63.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 39 shares in the last quarter. City Holding Co. acquired a new position in LPL Financial in the 1st quarter valued at about $34,000. Finally, TCTC Holdings LLC grew its position 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 acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

Shares of LPL Financial stock traded down $4.98 during trading hours on Friday, hitting $350.98. 506,950 shares of the company were exchanged, compared to its average volume of 934,077. LPL Financial Holdings Inc. has a 1 year low of $204.41 and a 1 year high of $403.58. 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 business has a 50-day moving average of $375.53 and a 200-day moving average of $355.93. The stock has a market capitalization of $28.08 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 0.82 and a beta of 0.66.

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

LPL Financial Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on LPL Financial from $425.00 to $435.00 and gave the company an "outperform" rating in a research report on Monday, August 4th. Wall Street Zen downgraded LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Citigroup downgraded LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective for the company. in a research report on Wednesday, July 9th. Barclays boosted their price objective on LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, JMP Securities boosted their price objective on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $383.58.

Insiders Place Their Bets

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was 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. This represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.30% 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.