Pictet Asset Management SA Has $5.72 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Pictet Asset Management SA boosted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating) by 502.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,983 shares of the financial services provider’s stock after purchasing an additional 25,842 shares during the period. Pictet Asset Management SA’s holdings in LPL Financial were worth $5,716,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LPLA. Fifth Third Bancorp raised its position in shares of LPL Financial by 162.5% during the second quarter. Fifth Third Bancorp now owns 168 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 104 shares during the last quarter. Better Money Decisions LLC bought a new stake in LPL Financial in the second quarter valued at approximately $33,000. Money Concepts Capital Corp increased its position in LPL Financial by 250.0% during the 2nd quarter. Money Concepts Capital Corp now owns 182 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 130 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in LPL Financial by 187.9% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 190 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 124 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of LPL Financial by 147.0% in the 2nd quarter. Assetmark Inc. now owns 205 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 122 shares during the period.

Analyst Upgrades and Downgrades

LPLA has been the subject of a number of analyst reports. JMP Securities lifted their target price on shares of LPL Financial from $245.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 11th. UBS Group downgraded LPL Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $305.00 to $230.00 in a report on Thursday. StockNews.com initiated coverage on shares of LPL Financial in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley upped their price objective on LPL Financial from $259.00 to $281.00 and gave the company an “overweight” rating in a research report on Monday, October 31st. Finally, Citigroup started coverage on shares of LPL Financial in a report on Tuesday, October 11th. They issued a “buy” rating and a $290.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.86.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CEO Dan H. Arnold sold 20,000 shares of LPL Financial stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $240.27, for a total transaction of $4,805,400.00. Following the completion of the transaction, the chief executive officer now owns 157,823 shares of the company’s stock, valued at approximately $37,920,132.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

LPL Financial Stock Performance

NASDAQ LPLA opened at $218.22 on Friday. LPL Financial Holdings Inc. has a twelve month low of $140.65 and a twelve month high of $271.56. The stock has a market cap of $17.37 billion, a P/E ratio of 28.01, a PEG ratio of 0.37 and a beta of 0.94. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.36. The company’s 50-day simple moving average is $238.52 and its 200 day simple moving average is $212.38.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Thursday, November 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. LPL Financial’s dividend payout ratio is currently 12.84%.

About LPL Financial

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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 auction rate notes.

Further Reading

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

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