Pictet Asset Management SA Has $5.72 Million Stock Position 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% during the 2nd quarter, HoldingsChannel.com reports. The fund 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 as of its most recent filing with the SEC.

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

LPL Financial Trading Up 0.3 %

Shares of 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 capitalization of $17.37 billion, a PE ratio of 28.01, a PEG ratio of 0.37 and a beta of 0.94. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.36. The stock has a fifty day simple moving average of $238.52 and a 200-day simple moving average of $212.38.

LPL Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup began coverage on shares of LPL Financial in a research report on Tuesday, October 11th. They set a “buy” rating and a $290.00 price target for the company. Morgan Stanley boosted their price target on LPL Financial from $259.00 to $281.00 and gave the stock an “overweight” rating in a research report on Monday, October 31st. StockNews.com began coverage on LPL Financial in a research report on Wednesday, October 12th. They set a “hold” rating for the company. UBS Group downgraded LPL Financial from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $305.00 to $230.00 in a report on Thursday. Finally, Credit Suisse Group raised their price target on LPL Financial from $276.00 to $285.00 in a report on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and a consensus price target of $252.86.

Insiders Place Their Bets

In related news, CFO Matthew J. Audette sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $257.09, for a total value of $5,141,800.00. Following the sale, the chief financial officer now owns 12,667 shares of the company’s stock, valued at approximately $3,256,559.03. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by company insiders.

LPL Financial Profile

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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.

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

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