Mn Services Vermogensbeheer B.V. Reduces Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mn Services Vermogensbeheer B.V. reduced its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,100 shares of the financial services provider’s stock after selling 600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in LPL Financial were worth $6,770,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in LPL Financial by 9.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after purchasing an additional 233,242 shares during the last quarter. Boston Partners grew its position in shares of LPL Financial by 71.9% in the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after buying an additional 738,509 shares during the last quarter. Samlyn Capital LLC grew its position in shares of LPL Financial by 8.0% in the 2nd quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after buying an additional 88,635 shares during the last quarter. TD Asset Management Inc lifted its position in LPL Financial by 33.2% in the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock valued at $291,586,000 after acquiring an additional 275,286 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake in LPL Financial by 19.8% in the first quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock valued at $245,011,000 after acquiring an additional 153,072 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Up 11.7 %

Shares of NASDAQ LPLA opened at $308.16 on Thursday. The stock has a market capitalization of $23.04 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.34 and a beta of 0.85. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $309.00. The firm has a 50-day moving average price of $239.07 and a 200 day moving average price of $249.06. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $3.74 EPS. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 16.03 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s dividend payout ratio is currently 9.02%.

Wall Street Analyst Weigh In

LPLA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Citigroup lifted their price target on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays increased their price objective on LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. UBS Group lifted their target price on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Finally, Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $286.92.

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.