Stifel Financial Corp Sells 22,192 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Stifel Financial Corp lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 15.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,831 shares of the financial services provider's stock after selling 22,192 shares during the quarter. Stifel Financial Corp owned 0.16% of LPL Financial worth $28,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Daiwa Securities Group Inc. grew its stake in shares of LPL Financial by 50.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider's stock worth $3,685,000 after acquiring an additional 5,320 shares in the last quarter. Raymond James & Associates grew its stake 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 worth $110,070,000 after acquiring an additional 20,123 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of LPL Financial in the 3rd quarter worth $2,633,000. Coronation Fund Managers Ltd. grew its stake in shares of LPL Financial by 68.2% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider's stock worth $50,586,000 after acquiring an additional 88,196 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of LPL Financial by 882.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 85,914 shares of the financial services provider's stock worth $23,996,000 after acquiring an additional 77,169 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

NASDAQ LPLA traded down $7.06 during trading on Monday, hitting $320.50. 436,006 shares of the company's stock traded hands, compared to its average volume of 725,150. The stock has a market capitalization of $24.00 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.60 and a beta of 0.86. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $332.91. 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 $284.54 and a 200-day moving average of $257.04.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the firm earned $3.74 earnings per share. The company's revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. The ex-dividend date was Thursday, November 14th. LPL Financial's dividend payout ratio is presently 9.02%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LPLA shares. Jefferies Financial Group reduced their target price on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating for the company in a research note on Friday, October 4th. UBS Group upped their target price on shares of LPL Financial from $215.00 to $250.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 8th. Barclays boosted their price target on shares of LPL Financial from $311.00 to $378.00 and gave the stock an "overweight" rating in a report on Monday. StockNews.com raised shares of LPL Financial from a "sell" rating to a "hold" rating in a report on Saturday, November 9th. Finally, The Goldman Sachs Group boosted their price target on shares of LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $296.42.

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.