LPL Financial Holdings Inc. $LPLA Shares Sold by TT International Asset Management LTD

Key Points

• TT International Asset Management LTD reduced its stake in LPL Financial Holdings Inc. by 57.2% during Q2, holding 5,122 shares now worth approximately $1.92 million.
• Several institutional investors increased their positions in LPL Financial, with Baader Bank Aktiengesellschaft boosting its stake by 58.2%.
• Analysts have mixed views on LPL Financial's stock, with price targets ranging from $80.00 to $490.00, reflecting a consensus rating of "Moderate Buy".

TT International Asset Management LTD lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 57.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,122 shares of the financial services provider's stock after selling 6,841 shares during the period. TT International Asset Management LTD's holdings in LPL Financial were worth $1,921,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LPLA. Summit Securities Group LLC purchased a new position in shares of LPL Financial during the first quarter valued at approximately $26,000. Millstone Evans Group LLC boosted its position in shares of LPL Financial by 123.1% during the first 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 during the period. Private Trust Co. NA boosted its position in shares of LPL Financial by 234.5% during the first 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 during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of LPL Financial by 63.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after buying an additional 39 shares during the period. Finally, City Holding Co. purchased a new position in shares of LPL Financial during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted 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. Rothschild Redb lowered LPL Financial from a "strong-buy" rating to a "hold" rating in a report on Friday. Citigroup lowered LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target for the company. in a report on Wednesday, July 9th. Rothschild & Co Redburn lowered LPL Financial from a "buy" rating to a "neutral" rating and set a $390.00 price target for the company. in a report on Friday. Finally, The Goldman Sachs Group started coverage on LPL Financial in a report on Friday, September 12th. They issued a "buy" rating and a $405.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $391.54.

LPL Financial Stock Up 0.4%

LPL Financial stock traded up $1.24 during mid-day trading on Monday, reaching $336.99. 1,350,675 shares of the company were exchanged, compared to its average volume of 927,971. The business has a fifty day moving average of $362.75 and a 200 day moving average of $353.50. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.22 and a current ratio of 3.22. The firm has a market cap of $26.96 billion, a P/E ratio of 23.05, a PEG ratio of 0.78 and a beta of 0.66. LPL Financial Holdings Inc. has a 12-month low of $216.65 and a 12-month high of $403.58.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, topping analysts' consensus estimates of $4.21 by $0.30. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.88 earnings per share. Research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $338.21, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Aneri Jambusaria sold 80 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the transaction, the director directly owned 5,582 shares in the company, valued at approximately $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,580 shares of company stock valued at $1,671,235. 0.70% of the stock is owned by company insiders.

LPL Financial 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.