LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 28.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,955 shares of the financial services provider’s stock after selling 47,154 shares during the quarter. Victory Capital Management Inc. owned 0.16% of LPL Financial worth $27,905,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LPLA. Bridges Investment Management Inc. lifted its holdings in LPL Financial by 3.2% during the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after buying an additional 37 shares in the last quarter. MFA Wealth Advisors LLC increased its position in shares of LPL Financial by 3.9% during the third quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 43 shares during the period. Stephens Inc. AR raised its stake in shares of LPL Financial by 5.2% in the third quarter. Stephens Inc. AR now owns 1,054 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 52 shares in the last quarter. Tortoise Investment Management LLC boosted its holdings in LPL Financial by 74.7% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares during the period. Finally, King Luther Capital Management Corp grew its stake in LPL Financial by 1.0% during the 2nd quarter. King Luther Capital Management Corp now owns 5,860 shares of the financial services provider’s stock worth $1,637,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LPLA. JMP Securities reiterated a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a research note on Wednesday, October 9th. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $235.00 to $285.00 in a research report on Wednesday, October 9th. UBS Group raised their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Jefferies Financial Group lowered their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, The Goldman Sachs Group raised their price target on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $314.02 on Monday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market cap of $23.51 billion, a P/E ratio of 23.61, a P/E/G ratio of 1.54 and a beta of 0.85. The stock has a 50 day moving average of $252.22 and a two-hundred day moving average of $251.23. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $322.03.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.74 EPS. On average, research analysts forecast that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.38%. The ex-dividend date is Thursday, November 14th. LPL Financial’s dividend payout ratio is presently 9.02%.

LPL Financial 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 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.