Third View Private Wealth LLC Sells 1,765 Shares of LPL Financial Holdings Inc. $LPLA

Third View Private Wealth LLC reduced its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 47.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,967 shares of the financial services provider’s stock after selling 1,765 shares during the period. Third View Private Wealth LLC’s holdings in LPL Financial were worth $602,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LPLA. BlackRock Inc. bought a new stake in LPL Financial in the 2nd quarter valued at approximately $1,333,189,000. Jupiter Topco LLC acquired a new position in LPL Financial during the 2nd quarter worth approximately $1,182,595,000. SurgoCap Partners LP bought a new position in shares of LPL Financial during the 2nd quarter worth approximately $299,487,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of LPL Financial during the 2nd quarter worth approximately $290,481,000. Finally, Bank of America Corp DE bought a new position in shares of LPL Financial during the 2nd quarter worth approximately $229,756,000. 95.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Citizens Jmp restated a “market outperform” rating and set a $500.00 target price on shares of LPL Financial in a report on Monday, October 5th. UBS Group lowered their price target on shares of LPL Financial from $390.00 to $369.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Keefe, Bruyette & Woods lifted their price target on shares of LPL Financial from $365.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. The Goldman Sachs Group reissued a “buy” rating and set a $400.00 price target on shares of LPL Financial in a research report on Wednesday, October 28th. Finally, Capital One Financial set a $370.00 price objective on shares of LPL Financial in a research note on Tuesday, October 6th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $400.60.

LPL Financial Trading Up 4.6%

NASDAQ LPLA opened at $311.48 on Thursday. The company has a market cap of $24.25 billion, a PE ratio of 17.87, a PEG ratio of 0.57 and a beta of 0.55. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 1.34. LPL Financial Holdings Inc. has a 12 month low of $260.15 and a 12 month high of $400.16. The stock has a 50 day moving average of $326.66 and a 200-day moving average of $322.00.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Tuesday, October 27th. The financial services provider reported $5.97 earnings per share for the quarter, beating the consensus estimate of $5.69 by $0.28. LPL Financial had a net margin of 6.83% and a return on equity of 32.05%. The business had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the business earned $5.20 earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis. On average, equities research analysts anticipate that LPL Financial Holdings Inc. will post 23.45 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 12th will be paid a $0.30 dividend. The ex-dividend date is Thursday, November 12th. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. LPL Financial’s dividend payout ratio (DPR) is currently 6.88%.

Insider Activity

In other news, Director Greg Gates sold 4,119 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $355.38, for a total value of $1,463,810.22. Following the sale, the director directly owned 23,602 shares of the company’s stock, valued at approximately $8,387,678.76. This represents a 14.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aneri Jambusaria sold 308 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $357.36, for a total transaction of $110,066.88. Following the completion of the sale, the director owned 6,107 shares of the company’s stock, valued at $2,182,397.52. This trade represents a 4.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 4,867 shares of company stock valued at $1,726,944 in the last quarter. Company insiders own 0.60% of the company’s stock.

About LPL Financial

LPL Financial Holdings Inc is a financial services company that supports independent financial advisors and institutions across the United States. Through its primary subsidiary, LPL Financial LLC, the company provides brokerage, investment advisory, and custodial services, enabling advisors to serve individual investors, families, retirement plans, and other clients.

LPL’s platform includes access to brokerage and advisory products, securities clearing and custody, trading and operations support, technology, compliance services, investment research, and practice-management resources.