Clarkston Capital Partners LLC Reduces Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Clarkston Capital Partners LLC trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 977,030 shares of the financial services provider’s stock after selling 15,585 shares during the quarter. LPL Financial accounts for 4.2% of Clarkston Capital Partners LLC’s portfolio, making the stock its 9th largest holding. Clarkston Capital Partners LLC owned approximately 1.31% of LPL Financial worth $227,286,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Boston Partners raised its holdings in LPL Financial by 71.9% in the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after acquiring an additional 738,509 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in LPL Financial by 9.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after purchasing an additional 233,242 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in LPL Financial by 31.1% in the second quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider’s stock worth $216,227,000 after purchasing an additional 183,755 shares in the last quarter. American Century Companies Inc. lifted its stake in LPL Financial by 52.6% during the second quarter. American Century Companies Inc. now owns 477,211 shares of the financial services provider’s stock worth $133,285,000 after purchasing an additional 164,586 shares during the period. Finally, Epoch Investment Partners Inc. grew its stake in shares of LPL Financial by 19.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock valued at $245,011,000 after purchasing an additional 153,072 shares during the period. 95.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on LPLA shares. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Jefferies Financial Group lowered their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Barclays increased their target price on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $235.00 to $285.00 in a research report on Wednesday, October 9th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Stock Down 0.2 %

Shares of LPLA opened at $314.02 on Monday. The business’s fifty day moving average price is $252.22 and its two-hundred day moving average price is $251.23. The firm has a market capitalization of $23.51 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.54 and a beta of 0.85. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $322.03. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.47. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $3.74 earnings per share. On average, analysts predict that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Thursday, November 14th. LPL Financial’s dividend payout ratio is 9.02%.

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.