Sheaff Brock Investment Advisors LLC decreased its stake in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,770 shares of the financial services provider’s stock after selling 523 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in LPL Financial were worth $960,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. FMR LLC lifted its position in LPL Financial by 46.8% during the first quarter. FMR LLC now owns 2,589,022 shares of the financial services provider’s stock valued at $180,326,000 after purchasing an additional 825,829 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in LPL Financial by 1.7% during the first quarter. Frontier Capital Management Co. LLC now owns 2,458,484 shares of the financial services provider’s stock valued at $171,233,000 after purchasing an additional 42,077 shares during the last quarter. AJO LP lifted its position in LPL Financial by 794.9% during the first quarter. AJO LP now owns 1,254,257 shares of the financial services provider’s stock valued at $87,359,000 after purchasing an additional 1,114,099 shares during the last quarter. Geode Capital Management LLC lifted its position in LPL Financial by 19.2% during the fourth quarter. Geode Capital Management LLC now owns 1,192,078 shares of the financial services provider’s stock valued at $72,811,000 after purchasing an additional 191,891 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its position in LPL Financial by 0.7% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,096,636 shares of the financial services provider’s stock valued at $76,381,000 after purchasing an additional 7,725 shares during the last quarter. Hedge funds and other institutional investors own 95.17% of the company’s stock.

Several equities analysts have commented on the stock. Credit Suisse Group increased their price objective on shares of LPL Financial from $108.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Compass Point downgraded shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $84.13 target price on the stock. in a research note on Wednesday, May 8th. Zacks Investment Research downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. ValuEngine downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, BidaskClub downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research note on Saturday. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $87.19.

In related news, CFO Matthew J. Audette sold 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $76.67, for a total value of $958,375.00. Following the transaction, the chief financial officer now owns 30,943 shares of the company’s stock, valued at approximately $2,372,399.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michelle Oroschakoff sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $84.51, for a total transaction of $507,060.00. Following the completion of the transaction, the insider now directly owns 15,563 shares in the company, valued at approximately $1,315,229.13. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

Shares of LPLA traded down $3.84 during midday trading on Wednesday, hitting $70.83. The stock had a trading volume of 6,808 shares, compared to its average volume of 730,548. LPL Financial Holdings Inc has a 1 year low of $52.03 and a 1 year high of $89.89. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.70 and a beta of 1.33. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.55. The company’s 50 day moving average is $82.07.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 25th. The financial services provider reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. LPL Financial had a net margin of 9.77% and a return on equity of 57.63%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that LPL Financial Holdings Inc will post 7.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Monday, August 12th. LPL Financial’s dividend payout ratio is currently 18.76%.

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 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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