Capstone Investment Advisors LLC Sells 343 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Capstone Investment Advisors LLC reduced its stake in LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) by 30.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 766 shares of the financial services provider’s stock after selling 343 shares during the quarter. Capstone Investment Advisors LLC’s holdings in LPL Financial were worth $202,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in LPL Financial by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock worth $1,625,446,000 after purchasing an additional 48,439 shares during the period. Boston Partners raised its holdings in LPL Financial by 21.5% in the 4th quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock worth $233,744,000 after purchasing an additional 181,594 shares during the period. Bank of New York Mellon Corp raised its holdings in LPL Financial by 2.5% in the 1st quarter. Bank of New York Mellon Corp now owns 970,749 shares of the financial services provider’s stock worth $256,472,000 after purchasing an additional 23,890 shares during the period. Norges Bank bought a new stake in LPL Financial during the fourth quarter valued at about $200,497,000. Finally, TD Asset Management Inc raised its holdings in LPL Financial by 286.0% during the fourth quarter. TD Asset Management Inc now owns 828,369 shares of the financial services provider’s stock valued at $188,553,000 after acquiring an additional 613,792 shares during the period. 95.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Raymond James assumed coverage on LPL Financial in a report on Thursday, April 4th. They set an “underperform” rating on the stock. UBS Group raised their price target on LPL Financial from $285.00 to $290.00 and gave the company a “neutral” rating in a report on Tuesday. TD Cowen raised their price target on LPL Financial from $271.00 to $279.00 and gave the company a “hold” rating in a report on Monday. Barclays lifted their target price on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $305.00 target price on shares of LPL Financial in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $284.30.

View Our Latest Analysis on LPL Financial

Insider Activity

In other news, CEO Dan H. Arnold sold 5,677 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $277.31, for a total transaction of $1,574,288.87. Following the transaction, the chief executive officer now owns 142,608 shares of the company’s stock, valued at $39,546,624.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

LPL Financial Trading Down 0.1 %

Shares of NASDAQ LPLA opened at $272.94 on Thursday. The business’s 50 day moving average is $276.62 and its two-hundred day moving average is $261.53. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84. LPL Financial Holdings Inc. has a 1-year low of $200.18 and a 1-year high of $289.88. The stock has a market capitalization of $20.39 billion, a P/E ratio of 20.61, a PEG ratio of 1.09 and a beta of 0.90.

LPL Financial (NASDAQ:LPLAGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.44. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.68 billion. As a group, research analysts expect that LPL Financial Holdings Inc. will post 15.85 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a dividend of $0.30 per share. The ex-dividend date was Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.44%. LPL Financial’s dividend payout ratio is 9.06%.

LPL Financial Company Profile

(Free Report)

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.

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

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