Raymond James Trust N.A. Has $1.39 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Raymond James Trust N.A. reduced its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 16.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,981 shares of the financial services provider’s stock after selling 950 shares during the period. Raymond James Trust N.A.’s holdings in LPL Financial were worth $1,391,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of LPLA. Vanguard Group Inc. lifted its position in LPL Financial by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock worth $1,625,446,000 after acquiring an additional 48,439 shares during the last quarter. Boston Partners lifted its position in LPL Financial by 71.9% during the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after acquiring an additional 738,509 shares during the last quarter. TD Asset Management Inc lifted its position in LPL Financial by 33.2% during the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock worth $291,586,000 after acquiring an additional 275,286 shares during the last quarter. Bank of New York Mellon Corp lifted its position in LPL Financial by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 970,749 shares of the financial services provider’s stock worth $256,472,000 after acquiring an additional 23,890 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in LPL Financial by 19.8% during the first quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock worth $245,011,000 after acquiring an additional 153,072 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Up 2.1 %

Shares of NASDAQ LPLA traded up $4.51 during trading on Friday, hitting $223.82. 844,518 shares of the company traded hands, compared to its average volume of 713,880. The business’s fifty day moving average is $240.77 and its 200 day moving average is $257.92. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $289.88. The firm has a market capitalization of $16.72 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 1.23 and a beta of 0.90. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.84 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the business earned $3.94 earnings per share. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. Equities research analysts predict that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.54%. LPL Financial’s dividend payout ratio is currently 9.06%.

Analyst Ratings Changes

LPLA has been the topic of several recent research reports. Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a report on Tuesday, July 30th. TD Cowen raised their target price on shares of LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Barclays lowered their target price on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. JMP Securities raised their target price on shares of LPL Financial from $305.00 to $310.00 and gave the stock a “market outperform” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $279.30.

Insider Activity

In other news, CEO Dan H. Arnold sold 5,677 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the completion of the sale, the chief executive officer now directly owns 142,608 shares of the company’s stock, valued at $39,546,624.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

About LPL Financial

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.