Banque Cantonale Vaudoise lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 43.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,952 shares of the financial services provider’s stock after selling 2,248 shares during the quarter. Banque Cantonale Vaudoise’s holdings in LPL Financial were worth $702,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Smithfield Trust Co raised its stake in shares of LPL Financial by 164.4% during the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock worth $28,000 after buying an additional 74 shares during the last quarter. First Manhattan Co. bought a new stake in LPL Financial in the fourth quarter valued at approximately $27,000. Quarry LP increased its stake in LPL Financial by 220.4% in the second quarter. Quarry LP now owns 173 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Fred Alger Management LLC acquired a new position in shares of LPL Financial in the third quarter valued at approximately $44,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of LPL Financial in the second quarter valued at approximately $7,495,000. Institutional investors and hedge funds own 92.84% of the company’s stock.
LPL Financial Stock Down 2.7 %
LPL Financial stock opened at $241.50 on Wednesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.87 and a current ratio of 1.87. LPL Financial Holdings Inc. has a 52-week low of $179.00 and a 52-week high of $259.27. The firm has a 50 day moving average price of $230.38 and a two-hundred day moving average price of $230.64. The firm has a market cap of $18.26 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 0.72 and a beta of 0.83.
LPL Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th will be paid a $0.30 dividend. The ex-dividend date is Monday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.50%. LPL Financial’s dividend payout ratio is currently 8.79%.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. TD Cowen assumed coverage on shares of LPL Financial in a report on Thursday, January 4th. They set a “market perform” rating and a $224.00 target price for the company. Morgan Stanley lowered their price target on shares of LPL Financial from $260.00 to $252.00 and set an “equal weight” rating on the stock in a research report on Monday, October 30th. Redburn Atlantic assumed coverage on shares of LPL Financial in a research note on Friday, December 1st. They set a “neutral” rating and a $240.00 price objective on the stock. Jefferies Financial Group increased their price objective on shares of LPL Financial from $282.00 to $284.00 in a research note on Tuesday, October 10th. Finally, UBS Group raised their price target on shares of LPL Financial from $245.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of “Hold” and an average price target of $251.45.
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, 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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