LPL Financial Holdings Inc. $LPLA Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC lowered its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 598,782 shares of the financial services provider’s stock after selling 75,445 shares during the period. LPL Financial makes up approximately 4.8% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 4th largest holding. Clarkston Capital Partners LLC owned 0.75% of LPL Financial worth $224,525,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. AGF Management Ltd. raised its stake in shares of LPL Financial by 74.9% during the 2nd quarter. AGF Management Ltd. now owns 765,024 shares of the financial services provider’s stock valued at $286,861,000 after buying an additional 327,580 shares during the last quarter. Bryn Mawr Trust Advisors LLC purchased a new stake in shares of LPL Financial in the second quarter worth about $316,000. JPMorgan Chase & Co. grew its holdings in LPL Financial by 8.8% during the first quarter. JPMorgan Chase & Co. now owns 1,304,780 shares of the financial services provider’s stock worth $426,846,000 after acquiring an additional 105,665 shares during the period. Charles Schwab Investment Management Inc. raised its position in LPL Financial by 5.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 354,001 shares of the financial services provider’s stock valued at $115,808,000 after acquiring an additional 18,252 shares in the last quarter. Finally, FORA Capital LLC acquired a new position in LPL Financial in the first quarter valued at approximately $1,728,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $353.71 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.60 and a current ratio of 2.60. The stock has a market capitalization of $28.31 billion, a PE ratio of 32.57, a P/E/G ratio of 0.78 and a beta of 0.63. LPL Financial Holdings Inc. has a fifty-two week low of $262.83 and a fifty-two week high of $403.58. The company has a fifty day moving average of $344.62 and a two-hundred day moving average of $361.75.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 30th. The financial services provider reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $0.71. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The business had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the company earned $4.16 earnings per share. The company’s quarterly revenue was up 46.4% on a year-over-year basis. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial’s dividend payout ratio is presently 11.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LPLA. UBS Group set a $455.00 price objective on shares of LPL Financial in a research note on Thursday, October 9th. The Goldman Sachs Group restated a “buy” rating and set a $421.00 price target on shares of LPL Financial in a research report on Friday, October 31st. JMP Securities set a $475.00 price objective on shares of LPL Financial in a report on Friday, October 31st. Rothschild & Co Redburn downgraded shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price objective for the company. in a research report on Friday, September 19th. Finally, Keefe, Bruyette & Woods raised their target price on LPL Financial from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and an average price target of $429.00.

Insider Activity at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $338.21, for a total value of $507,315.00. Following the sale, the director directly owned 17,620 shares of the company’s stock, valued at $5,959,260.20. The trade was a 7.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Aneri Jambusaria sold 80 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the sale, the director owned 5,582 shares of the company’s stock, valued at $2,016,497.50. The trade was a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,830 shares of company stock worth $1,336,675. Company insiders own 1.30% of the company’s stock.

About LPL Financial

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.