Trillium Asset Management LLC Has $21.79 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• Trillium Asset Management LLC reduced its stake in LPL Financial by 2.6%, owning 66,621 shares, valued at approximately $21.79 million by the end of the first quarter.
• LPL Financial reported $4.51 EPS for the latest quarter, exceeding analysts' expectations of $4.21, alongside a revenue of $3.84 billion, which is a 30.8% increase year-over-year.
• The firm recently declared a quarterly dividend of $0.30 per share, with a payout date set for August 29th, reflecting a yield of 0.3% and a payout ratio of 8.21%.

Trillium Asset Management LLC cut its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,621 shares of the financial services provider's stock after selling 1,755 shares during the period. Trillium Asset Management LLC owned 0.08% of LPL Financial worth $21,794,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LPLA. Cerity Partners LLC grew its position in shares of LPL Financial by 7.3% during the fourth quarter. Cerity Partners LLC now owns 11,848 shares of the financial services provider's stock worth $3,868,000 after acquiring an additional 802 shares during the last quarter. Bessemer Group Inc. grew its position in LPL Financial by 17.7% in the 4th quarter. Bessemer Group Inc. now owns 1,886 shares of the financial services provider's stock valued at $615,000 after buying an additional 284 shares in the last quarter. Townsquare Capital LLC lifted its holdings in LPL Financial by 47.0% in the 4th quarter. Townsquare Capital LLC now owns 15,532 shares of the financial services provider's stock valued at $5,071,000 after acquiring an additional 4,968 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new stake in LPL Financial in the 4th quarter valued at about $436,000. Finally, BTG Pactual Asset Management US LLC acquired a new stake in LPL Financial in the 4th quarter valued at about $424,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JMP Securities upped their price objective on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. TD Cowen lowered shares of LPL Financial from a "strong-buy" rating to a "hold" rating and reduced their price target for the stock from $406.00 to $403.00 in a research report on Wednesday, July 9th. Morgan Stanley reissued an "overweight" rating and issued a $490.00 price target (up from $450.00) on shares of LPL Financial in a research report on Tuesday, July 15th. Wall Street Zen lowered shares of LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Barclays increased their price target on shares of LPL Financial from $460.00 to $463.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $383.58.

LPL Financial Stock Performance

LPLA stock traded down $4.98 during midday trading on Friday, hitting $350.98. 506,950 shares of the company traded hands, compared to its average volume of 934,077. LPL Financial Holdings Inc. has a twelve month low of $204.41 and a twelve month high of $403.58. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 1.41. The business has a 50 day simple moving average of $375.53 and a 200-day simple moving average of $355.97. The stock has a market capitalization of $28.08 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 0.83 and a beta of 0.66.

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

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.30 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial's dividend payout ratio (DPR) is presently 8.21%.

Insider Activity

In other news, Director Greg Gates sold 1,500 shares of the firm's stock in a transaction 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 in the company, valued at approximately $7,151,836. This trade represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.