LPL Financial Holdings Inc. (LPLA) Stake Decreased by Northern Trust Corp

Northern Trust Corp trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 388,512 shares of the financial services provider’s stock after selling 10,317 shares during the quarter. Northern Trust Corp owned approximately 0.43% of LPL Financial Holdings worth $16,497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prudential Financial Inc. raised its holdings in shares of LPL Financial Holdings by 15.1% in the second quarter. Prudential Financial Inc. now owns 441,404 shares of the financial services provider’s stock worth $18,742,000 after buying an additional 57,830 shares during the period. Legal & General Group Plc raised its holdings in shares of LPL Financial Holdings by 37.8% in the first quarter. Legal & General Group Plc now owns 72,661 shares of the financial services provider’s stock worth $2,893,000 after buying an additional 19,923 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of LPL Financial Holdings by 166.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,393 shares of the financial services provider’s stock worth $1,036,000 after buying an additional 15,229 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of LPL Financial Holdings in the second quarter worth approximately $4,034,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of LPL Financial Holdings by 36.4% in the first quarter. Goldman Sachs Group Inc. now owns 947,482 shares of the financial services provider’s stock worth $37,738,000 after buying an additional 252,730 shares during the period. Hedge funds and other institutional investors own 90.66% of the company’s stock.

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Several equities research analysts have recently weighed in on LPLA shares. Zacks Investment Research upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Thursday. BidaskClub upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $65.00 price target on shares of LPL Financial Holdings in a report on Friday. Morgan Stanley reiterated an “underweight” rating and issued a $38.00 price target (up from $35.00) on shares of LPL Financial Holdings in a report on Monday, July 10th. Finally, ValuEngine downgraded LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. LPL Financial Holdings has an average rating of “Buy” and an average target price of $50.80.

LPL Financial Holdings Inc. (LPLA) opened at 49.88 on Monday. LPL Financial Holdings Inc. has a 52 week low of $30.77 and a 52 week high of $53.92. The company has a 50-day moving average price of $50.84 and a 200 day moving average price of $44.81. The company has a market cap of $4.48 billion, a PE ratio of 21.67 and a beta of 1.87.

LPL Financial Holdings (NASDAQ:LPLA) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. LPL Financial Holdings had a return on equity of 26.63% and a net margin of 5.19%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 earnings per share. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post $2.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Thursday, November 9th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Wednesday, November 8th. LPL Financial Holdings’s payout ratio is 42.55%.

LPL Financial Holdings Profile

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

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

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