Venturi Wealth Management LLC Sells 43,179 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Venturi Wealth Management LLC trimmed its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 95.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,073 shares of the financial services provider's stock after selling 43,179 shares during the period. Venturi Wealth Management LLC's holdings in LPL Financial were worth $482,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in LPLA. Intech Investment Management LLC raised its stake in shares of LPL Financial by 38.8% in the first quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider's stock worth $11,057,000 after purchasing an additional 11,703 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of LPL Financial by 533.8% in the 1st quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider's stock worth $1,359,000 after acquiring an additional 4,340 shares in the last quarter. Swedbank AB bought a new stake in shares of LPL Financial in the 1st quarter worth $3,648,000. Sei Investments Co. lifted its position in shares of LPL Financial by 23.4% during the first quarter. Sei Investments Co. now owns 113,254 shares of the financial services provider's stock valued at $29,923,000 after purchasing an additional 21,481 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in LPL Financial by 5.4% during the second quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider's stock worth $110,070,000 after purchasing an additional 20,123 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA traded down $2.56 during midday trading on Wednesday, reaching $314.68. 442,128 shares of the company traded hands, compared to its average volume of 743,831. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $321.92. The firm's fifty day moving average price is $248.20 and its two-hundred day moving average price is $250.73. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $23.56 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 1.55 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly 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. The firm had revenue of $3.11 billion for 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 company's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.74 earnings per share. On average, equities analysts expect that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. LPL Financial's payout ratio is currently 9.02%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LPLA. TD Cowen boosted their target price on LPL Financial from $271.00 to $277.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. Morgan Stanley upped their price objective on LPL Financial from $303.00 to $309.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods lowered their target price on LPL Financial from $326.00 to $315.00 and set an "outperform" rating on the stock in a research note on Friday, July 26th. UBS Group increased their price target on shares of LPL Financial from $215.00 to $250.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th. Finally, Barclays lifted their price objective 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 analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $286.92.

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.