Public Employees Retirement System of Ohio Has $6.46 Million Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Public Employees Retirement System of Ohio reduced its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,759 shares of the financial services provider’s stock after selling 2,689 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in LPL Financial were worth $6,458,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after buying an additional 650,675 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of LPL Financial by 9.9% during 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 in the last quarter. Samlyn Capital LLC boosted its position in LPL Financial by 8.0% during the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after purchasing an additional 88,635 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in LPL Financial by 11.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider’s stock worth $247,077,000 after purchasing an additional 90,020 shares during the last quarter. Finally, Darlington Partners Capital Management LP raised its stake in shares of LPL Financial by 9.5% during the 2nd quarter. Darlington Partners Capital Management LP now owns 783,290 shares of the financial services provider’s stock worth $218,773,000 after purchasing an additional 68,276 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on LPLA shares. Barclays boosted their price target on LPL Financial from $311.00 to $378.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. JMP Securities reissued a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price target on shares of LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group reduced their price objective 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. Finally, StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial presently has an average rating of “Moderate Buy” and an average target price of $305.17.

LPL Financial Stock Up 0.0 %

LPLA stock opened at $330.23 on Friday. The stock has a market capitalization of $24.73 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 1.61 and a beta of 0.86. The company has a 50-day moving average of $293.80 and a two-hundred day moving average of $258.97. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $334.38. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

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

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. LPL Financial’s dividend payout ratio is 9.02%.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

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.