OVERSEA CHINESE BANKING Corp Ltd Sells 2,306 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 66.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,153 shares of the financial services provider's stock after selling 2,306 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in LPL Financial were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LPLA. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of LPL Financial by 9.9% during 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 buying an additional 233,242 shares during the last quarter. Boston Partners grew its holdings in shares of LPL Financial by 71.9% during the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider's stock valued at $466,434,000 after acquiring an additional 738,509 shares in the last quarter. Samlyn Capital LLC lifted its stake 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 purchasing an additional 88,635 shares during the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of LPL Financial by 19.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider's stock valued at $245,011,000 after purchasing an additional 153,072 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of LPL Financial by 11.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider's stock valued at $247,077,000 after purchasing an additional 90,020 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LPLA has been the subject of several analyst reports. Wells Fargo & Company raised shares of LPL Financial from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $235.00 to $285.00 in a research note on Wednesday, October 9th. Citigroup boosted their target price on shares of LPL Financial from $285.00 to $310.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Keefe, Bruyette & Woods cut their target price on shares of LPL Financial from $326.00 to $315.00 and set an "outperform" rating for the company in a research report on Friday, July 26th. Morgan Stanley boosted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Finally, Barclays boosted their target price on shares of LPL Financial from $273.00 to $311.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, LPL Financial presently has a consensus rating of "Moderate Buy" and an average target price of $286.92.

LPL Financial Price Performance

LPL Financial stock traded up $1.51 during trading hours on Thursday, hitting $316.19. 429,353 shares of the stock were exchanged, compared to its average volume of 742,407. 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 stock has a market capitalization of $23.68 billion, a P/E ratio of 23.66, a P/E/G ratio of 1.55 and a beta of 0.85. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $321.92. The business's 50-day moving average is $248.20 and its two-hundred day moving average is $250.73.

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

LPL Financial Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. LPL Financial's 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.