Alliancebernstein L.P. Sells 85,436 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Alliancebernstein L.P. reduced its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 974,141 shares of the financial services provider’s stock after selling 85,436 shares during the period. Alliancebernstein L.P.’s holdings in LPL Financial were worth $152,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Berman Capital Advisors LLC increased its holdings in shares of LPL Financial by 23.2% in the 3rd quarter. Berman Capital Advisors LLC now owns 509 shares of the financial services provider’s stock worth $79,000 after buying an additional 96 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of LPL Financial by 36.0% in the 3rd quarter. Global Retirement Partners LLC now owns 389 shares of the financial services provider’s stock worth $61,000 after buying an additional 103 shares during the last quarter. Private Capital Group LLC increased its holdings in shares of LPL Financial by 7.5% in the 3rd quarter. Private Capital Group LLC now owns 1,527 shares of the financial services provider’s stock worth $239,000 after buying an additional 107 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of LPL Financial by 0.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 19,626 shares of the financial services provider’s stock worth $3,077,000 after buying an additional 119 shares during the last quarter. Finally, Congress Asset Management Co. MA increased its holdings in shares of LPL Financial by 0.9% in the 3rd quarter. Congress Asset Management Co. MA now owns 12,774 shares of the financial services provider’s stock worth $2,002,000 after buying an additional 120 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

In other LPL Financial news, Director Edward Fandrey sold 1,784 shares of the company’s stock in a transaction that occurred on Tuesday, November 30th. The shares were sold at an average price of $158.56, for a total transaction of $282,871.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michelle Oroschakoff sold 17,010 shares of the stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $166.97, for a total transaction of $2,840,159.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,065 shares of company stock valued at $6,822,244. 1.90% of the stock is currently owned by company insiders.

LPLA has been the topic of a number of research reports. UBS Group reduced their target price on shares of LPL Financial from $195.00 to $193.00 and set a “buy” rating on the stock in a report on Tuesday, January 4th. Morgan Stanley upped their price target on shares of LPL Financial from $226.00 to $253.00 and gave the company an “overweight” rating in a report on Friday. Bank of America started coverage on shares of LPL Financial in a report on Thursday, December 16th. They set a “neutral” rating and a $184.00 price target on the stock. Citigroup upped their price target on shares of LPL Financial from $228.00 to $234.00 and gave the company a “buy” rating in a report on Friday, September 24th. Finally, Truist started coverage on shares of LPL Financial in a report on Tuesday, November 2nd. They set a “buy” rating and a $200.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $190.67.

LPL Financial stock opened at $175.78 on Friday. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 0.87 and a beta of 1.11. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.35 and a quick ratio of 1.35. LPL Financial Holdings Inc. has a 1 year low of $103.88 and a 1 year high of $181.92. The firm has a 50-day moving average of $164.90 and a two-hundred day moving average of $155.50.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, October 28th. The financial services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.05. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.04 billion. LPL Financial had a net margin of 6.43% and a return on equity of 38.13%. The company’s revenue was up 38.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.44 EPS. Research analysts expect that LPL Financial Holdings Inc. will post 6.93 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 29th. Investors of record on Thursday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, November 9th. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. LPL Financial’s dividend payout ratio (DPR) is presently 17.57%.

LPL Financial Company Profile

LPL Financial Holdings, Inc serves independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow their practices. It provides objective financial guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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