LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 14.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,733 shares of the financial services provider’s stock after selling 293 shares during the period. Fiduciary Trust Co’s holdings in LPL Financial were worth $403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LPLA. Bridges Investment Management Inc. boosted its position in LPL Financial by 3.2% during the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 37 shares during the period. Avior Wealth Management LLC lifted its holdings in LPL Financial by 1.8% in the third quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 42 shares during the period. MFA Wealth Advisors LLC grew its position in LPL Financial by 3.9% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $267,000 after buying an additional 43 shares in the last quarter. Metis Global Partners LLC increased its stake in LPL Financial by 5.1% during the 3rd quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock valued at $220,000 after buying an additional 46 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of LPL Financial by 2.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,218 shares of the financial services provider’s stock worth $516,000 after buying an additional 49 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Stock Performance

LPL Financial stock opened at $325.15 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market cap of $24.35 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $330.72. The firm’s 50 day simple moving average is $274.56 and its 200-day simple moving average is $255.21.

LPL Financial (NASDAQ:LPLA) last announced its 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 company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.74 EPS. As a group, equities research analysts predict that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.37%. The ex-dividend date is Thursday, November 14th. LPL Financial’s dividend payout ratio is currently 9.02%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LPLA shares. Citigroup increased their price objective on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JMP Securities restated a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th. Jefferies Financial Group lowered their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Barclays boosted their price target 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $286.92.

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.