Voya Investment Management LLC Lowers Stock Holdings in LPL Financial Holdings Inc. $LPLA

by · The Cerbat Gem

Voya Investment Management LLC cut its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 68.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,372 shares of the financial services provider’s stock after selling 28,957 shares during the period. Voya Investment Management LLC’s holdings in LPL Financial were worth $4,449,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LPLA. Vanguard Group Inc. increased its holdings in shares of LPL Financial by 8.3% in the second quarter. Vanguard Group Inc. now owns 7,986,766 shares of the financial services provider’s stock valued at $2,994,798,000 after purchasing an additional 613,909 shares during the period. Boston Partners grew its position in LPL Financial by 4.7% in the 2nd quarter. Boston Partners now owns 3,679,484 shares of the financial services provider’s stock valued at $1,379,598,000 after buying an additional 165,201 shares during the last quarter. Dodge & Cox increased its stake in LPL Financial by 77.3% in the 2nd quarter. Dodge & Cox now owns 2,701,709 shares of the financial services provider’s stock valued at $1,013,060,000 after buying an additional 1,178,249 shares during the period. Massachusetts Financial Services Co. MA raised its position in LPL Financial by 61.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,442,182 shares of the financial services provider’s stock worth $915,745,000 after buying an additional 926,122 shares during the last quarter. Finally, Lone Pine Capital LLC lifted its stake in shares of LPL Financial by 6.1% in the 2nd quarter. Lone Pine Capital LLC now owns 1,872,248 shares of the financial services provider’s stock worth $702,037,000 after acquiring an additional 108,233 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $373.35 on Friday. The firm has a market capitalization of $29.88 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 0.92 and a beta of 0.60. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.60 and a quick ratio of 2.60. The business’s 50 day simple moving average is $361.29 and its 200-day simple moving average is $359.97. LPL Financial Holdings Inc. has a 12 month low of $262.83 and a 12 month high of $403.58.

LPL Financial (NASDAQ:LPLA – Get Free Report) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.71. The firm had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.08 billion. LPL Financial had a return on equity of 36.80% and a net margin of 5.35%.LPL Financial’s revenue was up 46.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.16 earnings per share. As a group, equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Thursday, November 13th were given a $0.30 dividend. The ex-dividend date was Thursday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.3%. LPL Financial’s payout ratio is currently 11.05%.

Insider Activity at LPL Financial

In other LPL Financial news, CEO Richard Steinmeier sold 5,058 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $370.99, for a total transaction of $1,876,467.42. Following the completion of the transaction, the chief executive officer directly owned 9,326 shares in the company, valued at approximately $3,459,852.74. This trade represents a 35.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Aneri Jambusaria sold 80 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $352.48, for a total transaction of $28,198.40. Following the completion of the sale, the director directly owned 5,502 shares in the company, valued at $1,939,344.96. This trade represents a 1.43% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 8,138 shares of company stock valued at $2,983,353. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LPLA. Citigroup reiterated an “outperform” rating on shares of LPL Financial in a research note on Friday, October 31st. JMP Securities set a $475.00 price objective on LPL Financial in a report on Friday, October 31st. BMO Capital Markets started coverage on LPL Financial in a research note on Friday, October 3rd. They set an “outperform” rating and a $365.00 target price for the company. UBS Group reissued a “neutral” rating and issued a $406.00 price target on shares of LPL Financial in a report on Thursday, December 11th. Finally, Morgan Stanley dropped their price objective on LPL Financial from $462.00 to $447.00 and set an “overweight” rating on the stock in a report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $426.79.

View Our Latest Stock Report on LPLA

LPL Financial Company Profile

(Free Report)

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.

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