Clarkston Capital Partners LLC Decreases Holdings in LPL Financial Holdings Inc. $LPLA

Clarkston Capital Partners LLC trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 68.0% in the first quarter, HoldingsChannel reports. The fund owned 96,404 shares of the financial services provider’s stock after selling 205,080 shares during the period. LPL Financial makes up 2.2% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 15th biggest position. Clarkston Capital Partners LLC’s holdings in LPL Financial were worth $29,001,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in LPLA. Bank of Nova Scotia grew its holdings in shares of LPL Financial by 0.7% during the 1st quarter. Bank of Nova Scotia now owns 5,705 shares of the financial services provider’s stock valued at $1,716,000 after purchasing an additional 37 shares during the last quarter. Gibbs Wealth Management raised its position in LPL Financial by 16.7% in the 1st quarter. Gibbs Wealth Management now owns 1,830 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 262 shares during the period. Sei Investments Co. lifted its stake in LPL Financial by 13.4% in the first quarter. Sei Investments Co. now owns 126,774 shares of the financial services provider’s stock worth $38,134,000 after purchasing an additional 14,967 shares during the last quarter. Lido Advisors LLC boosted its position in LPL Financial by 35.2% during the first quarter. Lido Advisors LLC now owns 2,608 shares of the financial services provider’s stock valued at $785,000 after buying an additional 679 shares during the period. Finally, Cetera Investment Advisers boosted its position in LPL Financial by 4.0% during the first quarter. Cetera Investment Advisers now owns 19,511 shares of the financial services provider’s stock valued at $5,870,000 after buying an additional 752 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LPLA shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $500.00 price objective on shares of LPL Financial in a research note on Monday, April 6th. Barclays lowered their target price on LPL Financial from $412.00 to $394.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. TD Cowen reduced their price target on LPL Financial from $330.00 to $326.00 and set a “hold” rating on the stock in a research report on Friday, May 1st. Jefferies Financial Group decreased their price target on LPL Financial from $464.00 to $383.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, William Blair reiterated an “outperform” rating on shares of LPL Financial in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and an average price target of $397.92.

LPL Financial Trading Down 1.2%

LPLA opened at $323.32 on Friday. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $403.58. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56. The business has a 50 day simple moving average of $295.89 and a two-hundred day simple moving average of $317.06. The firm has a market capitalization of $25.86 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 0.64 and a beta of 0.50.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $5.60 earnings per share for the quarter, topping analysts’ consensus estimates of $5.49 by $0.11. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.98 billion. During the same period last year, the company earned $5.15 EPS. The business’s quarterly revenue was up 34.6% compared to the same quarter last year. Analysts predict that LPL Financial Holdings Inc. will post 23.38 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a $0.30 dividend. The ex-dividend date was Thursday, May 21st. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial’s payout ratio is 10.71%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the transaction, the director directly owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. The trade was a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

LPL Financial Company 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.