Airain ltd lowered its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 78.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,509 shares of the financial services provider’s stock after selling 27,242 shares during the quarter. Airain ltd’s holdings in LPL Financial Holdings were worth $319,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Retirement Capital Strategies raised its stake in shares of LPL Financial Holdings by 0.4% during the 2nd quarter. Retirement Capital Strategies now owns 10,041 shares of the financial services provider’s stock worth $428,000 after purchasing an additional 41 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in LPL Financial Holdings by 1.9% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock valued at $118,000 after buying an additional 52 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in LPL Financial Holdings by 2.9% during the 2nd quarter. State of Wisconsin Investment Board now owns 17,588 shares of the financial services provider’s stock valued at $747,000 after buying an additional 490 shares in the last quarter. Alpha Windward LLC boosted its stake in LPL Financial Holdings by 4.2% in the second quarter. Alpha Windward LLC now owns 12,312 shares of the financial services provider’s stock worth $523,000 after buying an additional 492 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in LPL Financial Holdings by 0.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 101,087 shares of the financial services provider’s stock valued at $4,292,000 after purchasing an additional 550 shares during the last quarter. Institutional investors and hedge funds own 89.73% of the company’s stock.
Shares of LPL Financial Holdings Inc. (LPLA) opened at 46.87 on Friday. The firm’s 50-day moving average price is $46.11 and its 200-day moving average price is $42.21. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 20.36 and a beta of 1.84. LPL Financial Holdings Inc. has a 12 month low of $28.38 and a 12 month high of $48.56.
LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $0.53 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts expect that LPL Financial Holdings Inc. will post $2.40 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Thursday, August 10th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.13%. LPL Financial Holdings’s dividend payout ratio (DPR) is 43.48%.
Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $44.00 price target on shares of LPL Financial Holdings in a research note on Tuesday, July 4th. Morgan Stanley reissued an “underweight” rating and issued a $38.00 target price (up from $35.00) on shares of LPL Financial Holdings in a research note on Monday, July 10th. BidaskClub cut LPL Financial Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Nomura increased their target price on LPL Financial Holdings from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $51.00 price objective (up from $48.00) on shares of LPL Financial Holdings in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. LPL Financial Holdings currently has a consensus rating of “Buy” and an average price target of $48.20.
LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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