Geode Capital Management LLC Lowers Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Geode Capital Management LLC lowered its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,300,594 shares of the financial services provider’s stock after selling 24,469 shares during the period. Geode Capital Management LLC’s holdings in LPL Financial were worth $175,554,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of LPLA. Kayne Anderson Rudnick Investment Management LLC purchased a new position in LPL Financial during the first quarter valued at approximately $272,964,000. Artisan Partners Limited Partnership purchased a new position in shares of LPL Financial in the second quarter worth $146,650,000. Maverick Capital Ltd. lifted its holdings in shares of LPL Financial by 16,373.5% in the first quarter. Maverick Capital Ltd. now owns 852,007 shares of the financial services provider’s stock worth $121,121,000 after buying an additional 846,835 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of LPL Financial by 39.9% in the second quarter. American Century Companies Inc. now owns 1,063,660 shares of the financial services provider’s stock worth $143,573,000 after buying an additional 303,276 shares in the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of LPL Financial by 145.0% in the first quarter. UBS Asset Management Americas Inc. now owns 378,609 shares of the financial services provider’s stock worth $53,823,000 after buying an additional 224,047 shares in the last quarter. 93.70% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial stock opened at $166.92 on Thursday. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 29.18 and a beta of 1.18. The firm’s fifty day moving average is $150.44 and its 200 day moving average is $145.70. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.82. LPL Financial Holdings Inc. has a 52-week low of $75.25 and a 52-week high of $168.96.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 29th. The financial services provider reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.22. LPL Financial had a net margin of 6.98% and a return on equity of 38.84%. The business had revenue of $1.90 billion for the quarter. On average, equities research analysts anticipate that LPL Financial Holdings Inc. will post 7.28 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Friday, August 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Thursday, August 12th. LPL Financial’s dividend payout ratio (DPR) is 15.48%.

In other news, Director Matthew Enyedi sold 7,712 shares of the company’s stock in a transaction dated Tuesday, July 20th. The shares were sold at an average price of $130.00, for a total value of $1,002,560.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward Fandrey sold 1,784 shares of the company’s stock in a transaction dated Thursday, August 26th. The stock was sold at an average price of $148.78, for a total transaction of $265,423.52. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Several research firms have recently commented on LPLA. Morgan Stanley boosted their target price on shares of LPL Financial from $202.00 to $208.00 and gave the stock an “overweight” rating in a report on Friday, October 8th. The Goldman Sachs Group downgraded shares of LPL Financial from a “conviction-buy” rating to a “buy” rating in a report on Wednesday, June 23rd. Citigroup boosted their target price on shares of LPL Financial from $228.00 to $234.00 and gave the stock a “buy” rating in a report on Friday, September 24th. Finally, decreased their price target on shares of LPL Financial from $239.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, July 12th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, LPL Financial has an average rating of “Buy” and an average price target of $158.05.

LPL Financial Company Profile

LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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