Victory Capital Management Inc. Lowers Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Victory Capital Management Inc. lessened its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 28.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,955 shares of the financial services provider's stock after selling 47,154 shares during the quarter. Victory Capital Management Inc. owned about 0.16% of LPL Financial worth $27,905,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC lifted its stake in LPL Financial by 533.8% during the first quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider's stock valued at $1,359,000 after purchasing an additional 4,340 shares during the last quarter. Swedbank AB purchased a new position in LPL Financial during the 1st quarter valued at about $3,648,000. Raymond James & Associates increased its holdings in shares of LPL Financial by 5.4% in the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider's stock valued at $110,070,000 after purchasing an additional 20,123 shares during the period. National Bank of Canada FI lifted its position in shares of LPL Financial by 421.7% in the first quarter. National Bank of Canada FI now owns 119,772 shares of the financial services provider's stock worth $32,175,000 after purchasing an additional 96,816 shares in the last quarter. Finally, Coronation Fund Managers Ltd. boosted its stake in shares of LPL Financial by 68.2% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider's stock valued at $50,586,000 after buying an additional 88,196 shares during the period. Institutional investors own 95.66% of the company's stock.

Analyst Ratings Changes

LPLA has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. JMP Securities reaffirmed a "market outperform" rating and issued a $310.00 target price on shares of LPL Financial in a report on Wednesday, October 9th. Barclays lifted their price objective on LPL Financial from $273.00 to $311.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. TD Cowen raised their target price on shares of LPL Financial from $271.00 to $277.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. Finally, Citigroup boosted their target price on LPL Financial from $285.00 to $310.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $286.92.

LPL Financial Stock Performance

NASDAQ LPLA traded up $0.75 during trading on Monday, hitting $314.77. 559,709 shares of the company's stock traded hands, compared to its average volume of 741,901. The stock has a market capitalization of $23.57 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 1.54 and a beta of 0.85. 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 business has a 50 day moving average of $252.22 and a 200-day moving average of $251.23. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $322.03.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.74 EPS. As a group, equities research analysts anticipate that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be issued 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 (DPR) is currently 9.02%.

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 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.