Baird Financial Group Inc. Sells 61 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Baird Financial Group Inc. lessened its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 4,581 shares of the financial services provider’s stock after selling 61 shares during the period. Baird Financial Group Inc.’s holdings in LPL Financial were worth $845,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Arizona State Retirement System increased its position in LPL Financial by 0.3% during the 1st quarter. Arizona State Retirement System now owns 21,665 shares of the financial services provider’s stock worth $3,958,000 after buying an additional 67 shares during the period. Signaturefd LLC increased its position in LPL Financial by 14.5% during the 1st quarter. Signaturefd LLC now owns 537 shares of the financial services provider’s stock worth $98,000 after buying an additional 68 shares during the period. Advisors Asset Management Inc. increased its position in LPL Financial by 0.9% during the 1st quarter. Advisors Asset Management Inc. now owns 8,065 shares of the financial services provider’s stock worth $1,473,000 after buying an additional 75 shares during the period. Sumitomo Life Insurance Co. increased its position in LPL Financial by 1.1% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 7,919 shares of the financial services provider’s stock worth $1,461,000 after buying an additional 84 shares during the period. Finally, Yousif Capital Management LLC increased its position in LPL Financial by 3.6% during the 1st quarter. Yousif Capital Management LLC now owns 2,424 shares of the financial services provider’s stock worth $443,000 after buying an additional 85 shares during the period.

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 20,000 shares of the firm’s stock in a transaction dated 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 directly owns 12,667 shares of the company’s stock, valued at $3,256,559.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LPLA shares. JMP Securities increased their price objective on LPL Financial from $245.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 11th. StockNews.com started coverage on LPL Financial in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Citigroup started coverage on LPL Financial in a research report on Tuesday, October 11th. They issued a “buy” rating and a $290.00 price target on the stock. Morgan Stanley raised 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. Finally, Credit Suisse Group raised their price target on LPL Financial from $276.00 to $285.00 in a research report on Thursday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and a consensus price target of $252.86.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $218.22 on Monday. The stock’s 50-day simple moving average is $238.52 and its 200 day simple moving average is $212.52. The firm has a market capitalization of $17.37 billion, a PE ratio of 28.01, a price-to-earnings-growth 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. LPL Financial Holdings Inc. has a twelve month low of $140.65 and a twelve month high of $271.56.

LPL Financial Announces Dividend

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

LPL Financial Company Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding LPLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LPL Financial Holdings Inc. (NASDAQ:LPLAGet Rating).

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

Receive News & Ratings for LPL Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LPL Financial and related companies with MarketBeat.com's FREE daily email newsletter.