Voya Investment Management LLC Reduces Stock Position in LPL Financial Holdings Inc. $LPLA

Voya Investment Management LLC trimmed its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 68.4% during the third quarter, Holdings Channel.com reports. The firm owned 13,372 shares of the financial services provider’s stock after selling 28,957 shares during the period. Voya Investment Management LLC’s holdings in LPL Financial were worth $4,449,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Peak Financial Advisors LLC raised its position in shares of LPL Financial by 56.2% in the third quarter. Peak Financial Advisors LLC now owns 1,924 shares of the financial services provider’s stock valued at $640,000 after buying an additional 692 shares during the last quarter. Oak Thistle LLC acquired a new stake in LPL Financial during the third quarter worth approximately $3,096,000. Jackson Wealth Management LLC grew its stake in LPL Financial by 12.6% in the 3rd quarter. Jackson Wealth Management LLC now owns 6,670 shares of the financial services provider’s stock worth $2,219,000 after acquiring an additional 749 shares during the period. TT International Asset Management LTD raised its holdings in LPL Financial by 55.1% in the 3rd quarter. TT International Asset Management LTD now owns 7,944 shares of the financial services provider’s stock valued at $2,643,000 after acquiring an additional 2,822 shares during the last quarter. Finally, Praxis Investment Management Inc. lifted its stake in shares of LPL Financial by 40.3% during the 3rd quarter. Praxis Investment Management Inc. now owns 3,703 shares of the financial services provider’s stock worth $1,232,000 after purchasing an additional 1,063 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $352.48, for a total value of $28,198.40. Following the completion of the transaction, the director owned 5,502 shares in the company, valued at $1,939,344.96. This represents a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Steinmeier sold 5,058 shares of LPL Financial stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $370.99, for a total transaction of $1,876,467.42. Following the sale, the chief executive officer owned 9,326 shares in the company, valued at $3,459,852.74. This represents a 35.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,138 shares of company stock valued at $2,983,353 over the last quarter. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on LPLA. UBS Group restated a “neutral” rating and set a $406.00 price objective on shares of LPL Financial in a report on Thursday, December 11th. Morgan Stanley decreased their price target on LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a research note on Monday. TD Cowen upped their price objective on shares of LPL Financial from $356.00 to $410.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Barclays increased their price objective on shares of LPL Financial from $420.00 to $453.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of LPL Financial in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $426.79.

LPL Financial Stock Down 0.2%

LPLA opened at $373.35 on Friday. LPL Financial Holdings Inc. has a 1 year low of $262.83 and a 1 year high of $403.58. The firm has a 50 day moving average price of $361.29 and a 200 day moving average price of $359.97. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The company has a market cap of $29.88 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 0.92 and a beta of 0.60.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.71. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The company had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the firm earned $4.16 earnings per share. LPL Financial’s revenue for the quarter was up 46.4% on a year-over-year basis. Sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Thursday, November 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, November 13th. LPL Financial’s payout ratio is currently 11.05%.

LPL Financial Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.