Aureus Asset Management LLC Lowers Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Aureus Asset Management LLC cut its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 21.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,505 shares of the financial services provider’s stock after selling 950 shares during the quarter. Aureus Asset Management LLC’s holdings in LPL Financial were worth $815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LPLA. Tidal Investments LLC raised its stake in shares of LPL Financial by 18.3% in the first quarter. Tidal Investments LLC now owns 1,544 shares of the financial services provider’s stock worth $408,000 after purchasing an additional 239 shares during the last quarter. Swedbank AB purchased a new stake in shares of LPL Financial in the first quarter worth approximately $3,648,000. Cetera Investment Advisers raised its stake in shares of LPL Financial by 260.7% in the first quarter. Cetera Investment Advisers now owns 13,634 shares of the financial services provider’s stock worth $3,602,000 after purchasing an additional 9,854 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of LPL Financial in the first quarter worth approximately $833,000. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of LPL Financial by 5.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 8,627 shares of the financial services provider’s stock worth $2,238,000 after purchasing an additional 443 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $325.15 on Monday. The stock has a fifty day simple moving average of $274.56 and a two-hundred day simple moving average of $255.03. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $330.72. The firm has a market cap of $24.35 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

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. Analysts anticipate that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be 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 is Thursday, November 14th. LPL Financial’s payout ratio is currently 9.02%.

Wall Street Analysts Forecast Growth

LPLA has been the subject of several recent analyst reports. Morgan Stanley upped their target price on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Citigroup upped their target price on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Jefferies Financial Group reduced their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. Finally, Barclays upped their target price on LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LPL Financial 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.