LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock Position Reduced by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.4% during the second quarter, HoldingsChannel.com reports. The firm owned 490,239 shares of the financial services provider’s stock after selling 6,897 shares during the period. Charles Schwab Investment Management Inc.’s holdings in LPL Financial were worth $106,593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Manhattan Co. bought a new stake in LPL Financial in the fourth quarter worth approximately $27,000. Janiczek Wealth Management LLC grew its position in LPL Financial by 267.6% in the second quarter. Janiczek Wealth Management LLC now owns 136 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 99 shares in the last quarter. Ceredex Value Advisors LLC bought a new stake in LPL Financial in the second quarter worth approximately $38,000. Harbor Capital Advisors Inc. bought a new stake in LPL Financial in the second quarter worth approximately $40,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in LPL Financial in the first quarter worth approximately $41,000. 92.84% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Price Performance

NASDAQ:LPLA opened at $225.11 on Tuesday. The stock has a market cap of $17.02 billion, a P/E ratio of 15.26, a PEG ratio of 0.61 and a beta of 0.91. LPL Financial Holdings Inc. has a one year low of $179.00 and a one year high of $257.64. The company has a fifty day moving average price of $231.21 and a 200 day moving average price of $221.38. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.87 and a quick ratio of 1.87.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 26th. The financial services provider reported $3.74 EPS for the quarter, beating the consensus estimate of $3.59 by $0.15. LPL Financial had a net margin of 11.99% and a return on equity of 60.49%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the company earned $3.13 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. Analysts anticipate that LPL Financial Holdings Inc. will post 15.45 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Thursday, November 9th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Wednesday, November 8th. LPL Financial’s dividend payout ratio is 8.14%.

Insider Activity

In other news, CEO Dan H. Arnold sold 353 shares of the stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $250.03, for a total value of $88,260.59. Following the completion of the transaction, the chief executive officer now owns 145,884 shares in the company, valued at approximately $36,475,376.52. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Dan H. Arnold sold 353 shares of the stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $250.03, for a total value of $88,260.59. Following the completion of the transaction, the chief executive officer now owns 145,884 shares in the company, valued at approximately $36,475,376.52. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard Steinmeier sold 10,300 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $242.68, for a total transaction of $2,499,604.00. Following the completion of the transaction, the director now owns 16,914 shares of the company’s stock, valued at approximately $4,104,689.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,583 shares of company stock worth $3,017,039. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on LPLA shares. Bank of America boosted their target price on shares of LPL Financial from $232.00 to $233.00 in a research report on Sunday, July 30th. Barclays reduced their price objective on shares of LPL Financial from $277.00 to $265.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $230.00 to $251.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 10th. Jefferies Financial Group boosted their price objective on shares of LPL Financial from $282.00 to $284.00 in a research note on Tuesday, October 10th. Finally, StockNews.com assumed coverage on shares of LPL Financial in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $252.90.

LPL Financial Company 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, 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.