Daiwa Securities Group Inc. Sells 5,384 Shares of LPL Financial Holdings Inc (NASDAQ:LPLA)

Daiwa Securities Group Inc. lowered its stake in LPL Financial Holdings Inc (NASDAQ:LPLA) by 9.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,884 shares of the financial services provider’s stock after selling 5,384 shares during the quarter. Daiwa Securities Group Inc. owned about 0.06% of LPL Financial worth $4,167,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. WINTON GROUP Ltd raised its stake in shares of LPL Financial by 1.4% in the second quarter. WINTON GROUP Ltd now owns 10,199 shares of the financial services provider’s stock worth $832,000 after buying an additional 143 shares during the period. Synovus Financial Corp raised its stake in shares of LPL Financial by 3.6% in the third quarter. Synovus Financial Corp now owns 4,288 shares of the financial services provider’s stock worth $351,000 after buying an additional 151 shares during the period. IHT Wealth Management LLC raised its stake in shares of LPL Financial by 1.7% in the second quarter. IHT Wealth Management LLC now owns 9,294 shares of the financial services provider’s stock worth $758,000 after buying an additional 157 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of LPL Financial by 4.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,338 shares of the financial services provider’s stock worth $437,000 after buying an additional 231 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of LPL Financial by 3.9% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,179 shares of the financial services provider’s stock worth $503,000 after buying an additional 234 shares during the period. 94.26% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director George Burton White sold 51,140 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $86.34, for a total value of $4,415,427.60. Following the completion of the transaction, the director now directly owns 40,809 shares of the company’s stock, valued at approximately $3,523,449.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Michelle Oroschakoff sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $71.67, for a total value of $358,350.00. Following the completion of the transaction, the insider now directly owns 14,297 shares of the company’s stock, valued at $1,024,665.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,166 shares of company stock valued at $12,691,843. 2.20% of the stock is owned by company insiders.

LPLA has been the topic of several recent analyst reports. BidaskClub raised LPL Financial from a “hold” rating to a “buy” rating in a research note on Wednesday. ValuEngine raised LPL Financial from a “strong sell” rating to a “sell” rating in a research note on Friday, October 11th. Morgan Stanley decreased their target price on LPL Financial from $90.00 to $84.00 and set an “equal weight” rating on the stock in a research note on Monday, October 14th. Citigroup lifted their target price on LPL Financial from $93.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Credit Suisse Group decreased their target price on LPL Financial from $110.00 to $98.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $92.02.

NASDAQ:LPLA opened at $86.98 on Friday. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.33 and a quick ratio of 1.33. LPL Financial Holdings Inc has a 1 year low of $54.90 and a 1 year high of $89.89. The stock’s 50 day simple moving average is $79.68 and its two-hundred day simple moving average is $80.16. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 0.81 and a beta of 1.39.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.10. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. LPL Financial had a return on equity of 59.56% and a net margin of 10.07%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 EPS. As a group, analysts anticipate that LPL Financial Holdings Inc will post 7.15 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, November 6th. LPL Financial’s payout ratio is currently 18.76%.

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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

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