LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Achmea Investment Management B.V.

Achmea Investment Management B.V. cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 18.5% during the second quarter, HoldingsChannel.com reports. The firm owned 3,286 shares of the financial services provider’s stock after selling 747 shares during the period. Achmea Investment Management B.V.’s holdings in LPL Financial were worth $917,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new position in LPL Financial during the 2nd quarter worth $25,000. Key Financial Inc acquired a new stake in LPL Financial in the second quarter worth about $28,000. Riverview Trust Co purchased a new stake in shares of LPL Financial during the first quarter worth about $30,000. Crewe Advisors LLC increased its holdings in shares of LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 101 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its position in shares of LPL Financial by 74.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 0.6 %

Shares of LPLA stock opened at $205.71 on Friday. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $289.88. The stock has a market cap of $15.38 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.20 and a beta of 0.88. The stock has a 50 day moving average of $223.27 and a 200 day moving average of $254.20. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last posted its earnings results 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 during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the previous year, the firm earned $3.94 EPS. The business’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 15.9 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, August 9th. LPL Financial’s payout ratio is currently 9.06%.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of recent analyst reports. JMP Securities upped their price target on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a research note on Friday, July 26th. UBS Group cut their target price on LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company started coverage on LPL Financial in a report on Thursday. They issued an “equal weight” rating and a $235.00 price objective on the stock. Finally, Bank of America raised LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price for the company in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $275.27.

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.