KBC Group NV Sells 2,040 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

KBC Group NV cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 16.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,230 shares of the financial services provider's stock after selling 2,040 shares during the period. KBC Group NV's holdings in LPL Financial were worth $2,379,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. raised its position in LPL Financial by 419.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,239 shares of the financial services provider's stock valued at $3,545,000 after buying an additional 12,304 shares during the last quarter. Future Fund LLC grew its stake in shares of LPL Financial by 20.9% in the 3rd quarter. Future Fund LLC now owns 5,190 shares of the financial services provider's stock worth $1,207,000 after acquiring an additional 898 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of LPL Financial in the third quarter valued at about $963,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in LPL Financial by 2.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 175,199 shares of the financial services provider's stock worth $40,757,000 after purchasing an additional 4,572 shares during the last quarter. Finally, GSA Capital Partners LLP grew its position in LPL Financial by 116.9% in the 3rd quarter. GSA Capital Partners LLP now owns 2,978 shares of the financial services provider's stock worth $693,000 after purchasing an additional 1,605 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on LPLA shares. StockNews.com raised shares of LPL Financial from a "sell" rating to a "hold" rating in a research report on Saturday, November 9th. Keefe, Bruyette & Woods reduced their price objective on LPL Financial from $326.00 to $315.00 and set an "outperform" rating for the company in a research note on Friday, July 26th. UBS Group lifted their target price on LPL Financial from $215.00 to $250.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 8th. TD Cowen increased their price target on shares of LPL Financial from $271.00 to $277.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. Finally, Bank of America upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and set a $268.00 price objective for the company in a report on Tuesday, July 30th. One investment 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, LPL Financial presently has a consensus rating of "Moderate Buy" and an average target price of $286.92.

LPL Financial Stock Performance

Shares of NASDAQ LPLA traded down $0.24 during mid-day trading on Tuesday, hitting $314.53. The company had a trading volume of 429,889 shares, compared to its average volume of 740,508. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $322.03. The company has a market capitalization of $23.55 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 1.54 and a beta of 0.85. The stock's 50-day moving average price is $256.42 and its 200-day moving average price is $251.86.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating analysts' consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the firm earned $3.74 EPS. The company's quarterly revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial's dividend payout ratio is presently 9.02%.

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.