Janus Henderson Group PLC Sells 13,688 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Janus Henderson Group PLC decreased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,528,497 shares of the financial services provider’s stock after selling 13,688 shares during the quarter. Janus Henderson Group PLC owned approximately 3.38% of LPL Financial worth $588,207,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Daiwa Securities Group Inc. increased its holdings in shares of LPL Financial by 50.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock valued at $3,685,000 after acquiring an additional 5,320 shares during the last quarter. Raymond James & Associates increased its position in shares of LPL Financial by 5.4% in the second quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock worth $110,070,000 after acquiring an additional 20,123 shares in the last quarter. Coronation Fund Managers Ltd. boosted its stake in LPL Financial by 68.2% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider’s stock valued at $50,586,000 after acquiring an additional 88,196 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of LPL Financial by 882.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 85,914 shares of the financial services provider’s stock worth $23,996,000 after acquiring an additional 77,169 shares during the period. Finally, Bridgewater Associates LP grew its stake in shares of LPL Financial by 230.4% in the 3rd quarter. Bridgewater Associates LP now owns 35,848 shares of the financial services provider’s stock worth $8,339,000 after purchasing an additional 24,998 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Down 0.4 %

Shares of LPL Financial stock opened at $323.91 on Tuesday. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $330.72. The firm’s 50-day moving average price is $276.62 and its two-hundred day moving average price is $255.43. 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 company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 1.59 and a beta of 0.86.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping 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 firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the company earned $3.74 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts forecast that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on LPLA. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. The Goldman Sachs Group increased their price objective on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. Barclays increased their price target on LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, TD Cowen raised their price target on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, LPL Financial currently has a consensus rating of “Moderate Buy” and an average price target of $290.83.

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.