New York State Common Retirement Fund decreased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,463 shares of the financial services provider’s stock after selling 15,470 shares during the quarter. New York State Common Retirement Fund owned approximately 0.16% of LPL Financial worth $9,543,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LPLA. Ovata Capital Management Ltd bought a new position in shares of LPL Financial during the second quarter valued at about $28,000. Signaturefd LLC grew its position in LPL Financial by 113.0% in the 2nd quarter. Signaturefd LLC now owns 392 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 208 shares in the last quarter. CWM LLC increased its stake in LPL Financial by 212.4% in the 2nd quarter. CWM LLC now owns 681 shares of the financial services provider’s stock valued at $53,000 after buying an additional 463 shares during the last quarter. Jacobi Capital Management LLC lifted its position in shares of LPL Financial by 147.3% during the 2nd quarter. Jacobi Capital Management LLC now owns 789 shares of the financial services provider’s stock worth $62,000 after buying an additional 470 shares in the last quarter. Finally, Twin Tree Management LP purchased a new position in shares of LPL Financial in the 2nd quarter worth approximately $82,000. Institutional investors own 96.38% of the company’s stock.

LPL Financial stock opened at $90.07 on Friday. The firm has a market capitalization of $7.14 billion, a P/E ratio of 14.99 and a beta of 1.51. LPL Financial Holdings Inc. has a one year low of $32.01 and a one year high of $99.60. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.30 and a quick ratio of 1.29. The business has a fifty day moving average price of $82.47 and a 200-day moving average price of $78.28.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, October 29th. The financial services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.23 by $0.21. LPL Financial had a return on equity of 49.27% and a net margin of 8.50%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company earned $1.71 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. Sell-side analysts expect that LPL Financial Holdings Inc. will post 6.23 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Tuesday, November 10th. LPL Financial’s dividend payout ratio (DPR) is presently 13.93%.

A number of brokerages recently commented on LPLA. Morgan Stanley lifted their price target on LPL Financial from $104.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup increased their price target on shares of LPL Financial from $111.00 to $118.50 and gave the company a “buy” rating in a research report on Tuesday, September 8th. ValuEngine raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on shares of LPL Financial from $132.50 to $145.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, BidaskClub upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 7th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. LPL Financial has an average rating of “Buy” and an average price target of $96.18.

In related news, Director Sallie R. Larsen sold 6,300 shares of the stock in a transaction on Monday, November 16th. The stock was sold at an average price of $91.22, for a total value of $574,686.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dan H. Arnold sold 1,956 shares of LPL Financial stock in a transaction on Friday, September 4th. The shares were sold at an average price of $85.43, for a total value of $167,101.08. Following the sale, the chief executive officer now directly owns 212,915 shares of the company’s stock, valued at approximately $18,189,328.45. The disclosure for this sale can be found here. Insiders sold a total of 12,256 shares of company stock worth $1,088,947 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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

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