LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock Holdings Lessened by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 23.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,917 shares of the financial services provider’s stock after selling 2,396 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in LPL Financial were worth $1,828,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LPLA. Wealth Enhancement Advisory Services LLC boosted its position in shares of LPL Financial by 3.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,675 shares of the financial services provider’s stock valued at $2,292,000 after purchasing an additional 313 shares during the period. Norden Group LLC purchased a new position in shares of LPL Financial in the first quarter worth approximately $889,000. Commonwealth Equity Services LLC raised its holdings in shares of LPL Financial by 33.7% during the first quarter. Commonwealth Equity Services LLC now owns 5,473 shares of the financial services provider’s stock valued at $1,446,000 after acquiring an additional 1,380 shares during the period. Van ECK Associates Corp lifted its position in shares of LPL Financial by 14.4% in the 1st quarter. Van ECK Associates Corp now owns 23,589 shares of the financial services provider’s stock valued at $6,233,000 after acquiring an additional 2,969 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in LPL Financial in the 1st quarter worth approximately $208,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Up 6.9 %

LPL Financial stock opened at $282.18 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $291.67. The firm’s fifty day simple moving average is $232.98 and its 200-day simple moving average is $248.24. The company has a market capitalization of $21.10 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.38 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.74 earnings per share. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 15.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LPLA has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their target price on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. UBS Group increased their price objective on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their price objective on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. TD Cowen upped their target price on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a report on Thursday. Finally, StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, LPL Financial presently has an average rating of “Moderate Buy” and an average price target of $284.31.

LPL Financial Profile

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.