Nisa Investment Advisors LLC Sells 5,490 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Nisa Investment Advisors LLC lessened its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 87.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 810 shares of the financial services provider's stock after selling 5,490 shares during the quarter. Nisa Investment Advisors LLC's holdings in LPL Financial were worth $188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners grew its position in LPL Financial by 71.9% during the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider's stock valued at $466,434,000 after purchasing an additional 738,509 shares in the last quarter. TD Asset Management Inc raised its stake in LPL Financial by 33.2% in the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider's stock valued at $291,586,000 after purchasing an additional 275,286 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of LPL Financial by 9.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider's stock worth $723,329,000 after acquiring an additional 233,242 shares during the period. The Manufacturers Life Insurance Company grew its holdings in LPL Financial by 31.1% during the second quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider's stock worth $216,227,000 after buying an additional 183,755 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in LPL Financial by 52.6% during the 2nd quarter. American Century Companies Inc. now owns 477,211 shares of the financial services provider's stock worth $133,285,000 after purchasing an additional 164,586 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Price Performance

Shares of LPL Financial stock traded down $3.26 during trading on Thursday, reaching $304.90. The company's stock had a trading volume of 643,213 shares, compared to its average volume of 746,416. The business has a 50 day moving average price of $240.71 and a 200-day moving average price of $249.45. The company has a market capitalization of $22.79 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 1.34 and a beta of 0.85. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $309.00. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping analysts' consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the business posted $3.74 EPS. LPL Financial's quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 16.03 EPS for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.39%. LPL Financial's dividend payout ratio is 9.02%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JMP Securities reiterated a "market outperform" rating and set a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. StockNews.com upgraded LPL Financial from a "sell" rating to a "hold" rating in a research note on Thursday, October 31st. TD Cowen increased their target price on shares of LPL Financial from $271.00 to $277.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. Barclays raised their price objective on shares of LPL Financial from $273.00 to $311.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Finally, Bank of America raised 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 equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $286.92.

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.