UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 40,214 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 6.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 615,237 shares of the financial services provider’s stock after selling 40,214 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in LPL Financial were worth $143,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of LPLA. FMR LLC raised its stake in LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after purchasing an additional 650,675 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of LPL Financial by 9.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after purchasing an additional 233,242 shares during the period. Samlyn Capital LLC raised its position in shares of LPL Financial by 8.0% in the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after buying an additional 88,635 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of LPL Financial by 11.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider’s stock valued at $247,077,000 after buying an additional 90,020 shares during the period. Finally, Darlington Partners Capital Management LP grew its position in LPL Financial by 9.5% during the second quarter. Darlington Partners Capital Management LP now owns 783,290 shares of the financial services provider’s stock worth $218,773,000 after buying an additional 68,276 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $325.15 on Monday. The company has a 50-day moving average price of $274.56 and a two-hundred day moving average price of $255.03. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $330.72. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $24.35 billion, a PE ratio of 24.45, a P/E/G ratio of 1.59 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the company posted $3.74 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts forecast that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of recent analyst reports. JMP Securities restated a “market outperform” rating and issued a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. TD Cowen boosted their target price on shares of LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Jefferies Financial Group lowered their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Finally, UBS Group raised their target price on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $290.83.

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.