Franklin Resources Inc. Sells 56,121 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Franklin Resources Inc. lessened its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 17.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 259,919 shares of the financial services provider's stock after selling 56,121 shares during the period. Franklin Resources Inc. owned approximately 0.35% of LPL Financial worth $64,904,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial in the second quarter valued at about $25,000. Key Financial Inc acquired a new stake in LPL Financial during the second quarter worth approximately $28,000. Ashton Thomas Securities LLC bought a new position in LPL Financial during the 3rd quarter worth $31,000. Paladin Wealth LLC acquired a new position in LPL Financial in the 3rd quarter valued at $34,000. Finally, Crewe Advisors LLC increased its position in shares of LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider's stock worth $36,000 after purchasing an additional 101 shares during the period. Institutional investors own 95.66% of the company's stock.

LPL Financial Trading Down 0.1 %

Shares of LPLA stock traded down $0.37 on Tuesday, hitting $329.40. The company had a trading volume of 433,880 shares, compared to its average volume of 717,375. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $334.38. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $24.67 billion, a P/E ratio of 24.77, a P/E/G ratio of 1.61 and a beta of 0.86. The stock's 50-day moving average is $295.61 and its two-hundred day moving average is $259.01.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate 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 net margin of 8.73% and a return on equity of 49.47%. LPL Financial's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.74 earnings per share. On average, equities research analysts anticipate that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.36%. LPL Financial's payout ratio is currently 9.02%.

Insider Buying and Selling at LPL Financial

In other news, Director Aneri Jambusaria sold 305 shares of the firm's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Jefferies Financial Group decreased their target price on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating on the stock in a report on Friday, October 4th. JMP Securities reissued a "market outperform" rating and set a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. Citigroup raised their price objective on LPL Financial from $285.00 to $310.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Barclays increased their target price on shares of LPL Financial from $311.00 to $378.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Finally, Wells Fargo & Company lifted their price target on shares of LPL Financial from $310.00 to $390.00 and gave the company an "overweight" rating in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $305.17.

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, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.