LPL Financial Holdings Inc. $LPLA Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC cut its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.4% during the second quarter, Holdings Channel reports. The institutional investor owned 64,347 shares of the financial services provider’s stock after selling 2,274 shares during the period. Trillium Asset Management LLC’s holdings in LPL Financial were worth $24,129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Ellevest Inc. acquired a new stake in shares of LPL Financial during the 2nd quarter worth about $340,000. Huntington National Bank raised its stake in LPL Financial by 135.3% during the 2nd quarter. Huntington National Bank now owns 546 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 314 shares in the last quarter. Lynwood Price Capital Management LP raised its stake in LPL Financial by 2.9% during the 2nd quarter. Lynwood Price Capital Management LP now owns 54,000 shares of the financial services provider’s stock worth $20,248,000 after acquiring an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of LPL Financial by 7.2% during the second quarter. Bank of New York Mellon Corp now owns 485,462 shares of the financial services provider’s stock worth $182,034,000 after purchasing an additional 32,729 shares in the last quarter. Finally, Machina Capital S.A.S. increased its position in shares of LPL Financial by 54.3% during the second quarter. Machina Capital S.A.S. now owns 2,999 shares of the financial services provider’s stock worth $1,125,000 after purchasing an additional 1,055 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company lifted their price target on LPL Financial from $402.00 to $420.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. The Goldman Sachs Group restated a “buy” rating and issued a $421.00 price objective on shares of LPL Financial in a research note on Friday. Raymond James Financial upgraded shares of LPL Financial from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 9th. Morgan Stanley dropped their price target on LPL Financial from $490.00 to $462.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Finally, Rothschild Redb lowered LPL Financial from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $429.00.

Insider Transactions at LPL Financial

In other news, Director Greg Gates sold 750 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $314.42, for a total value of $235,815.00. Following the sale, the director directly owned 16,870 shares in the company, valued at $5,304,265.40. This represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total transaction of $28,900.00. Following the sale, the director directly owned 5,582 shares in the company, valued at $2,016,497.50. This represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 2,330 shares of company stock worth $772,030. 0.70% of the stock is owned by corporate insiders.

LPL Financial Trading Down 1.2%

Shares of LPLA stock opened at $374.49 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22. LPL Financial Holdings Inc. has a 1-year low of $262.83 and a 1-year high of $403.58. The firm has a market capitalization of $29.96 billion, a PE ratio of 34.48, a P/E/G ratio of 0.87 and a beta of 0.63. The business’s fifty day moving average price is $340.29 and its 200 day moving average price is $357.62.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. The business had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a net margin of 5.35% and a return on equity of 40.11%. The business’s revenue for the quarter was up 46.4% on a year-over-year basis. During the same period in the prior year, the company posted $4.16 EPS. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Thursday, November 13th. LPL Financial’s dividend payout ratio is presently 11.05%.

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.