3,276 LPL Financial Holdings Inc. $LPLA Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. lowered its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 17.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,283 shares of the financial services provider’s stock after selling 3,276 shares during the period. Reinhart Partners LLC.’s holdings in LPL Financial were worth $4,674,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of LPLA. Valley Wealth Managers Inc. grew its holdings in shares of LPL Financial by 5.7% during the 3rd quarter. Valley Wealth Managers Inc. now owns 2,465 shares of the financial services provider’s stock valued at $754,000 after purchasing an additional 132 shares during the last quarter. Wedmont Private Capital lifted its stake in LPL Financial by 49.3% in the 3rd quarter. Wedmont Private Capital now owns 2,320 shares of the financial services provider’s stock valued at $761,000 after purchasing an additional 766 shares during the last quarter. WoodTrust Financial Corp acquired a new stake in LPL Financial in the third quarter valued at approximately $215,000. Legacy Wealth Asset Management LLC boosted its position in LPL Financial by 40.7% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,390 shares of the financial services provider’s stock valued at $425,000 after buying an additional 402 shares in the last quarter. Finally, CX Institutional grew its stake in shares of LPL Financial by 268.9% during the third quarter. CX Institutional now owns 225 shares of the financial services provider’s stock worth $69,000 after buying an additional 164 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays upped their price target on shares of LPL Financial from $401.00 to $409.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America lowered their target price on LPL Financial from $557.00 to $554.00 and set a “buy” rating for the company in a report on Monday. Citizens Jmp reiterated a “market outperform” rating and issued a $500.00 target price on shares of LPL Financial in a research report on Monday, October 5th. Citigroup reissued a “market outperform” rating on shares of LPL Financial in a research note on Monday. Finally, Morgan Stanley boosted their price target on LPL Financial from $387.00 to $393.00 and gave the stock an “overweight” rating in a report on Friday. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $411.69.

LPL Financial Stock Up 0.9%

Shares of NASDAQ:LPLA opened at $330.88 on Friday. The firm has a market cap of $26.05 billion, a P/E ratio of 26.39, a P/E/G ratio of 0.56 and a beta of 0.53. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.30. LPL Financial Holdings Inc. has a 12-month low of $260.15 and a 12-month high of $400.16. The business has a fifty day simple moving average of $345.91 and a 200 day simple moving average of $319.12.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating analysts’ consensus estimates of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the previous year, the company posted $4.51 EPS. The business’s revenue was up 35.2% on a year-over-year basis. Analysts predict that LPL Financial Holdings Inc. will post 24.14 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, August 14th. LPL Financial’s dividend payout ratio is currently 9.57%.

Insider Activity

In other news, Director Greg Gates sold 4,119 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total value of $1,463,810.22. Following the sale, the director directly owned 23,602 shares of the company’s stock, valued at approximately $8,387,678.76. This represents a 14.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew Enyedi sold 1,000 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $352.72, for a total transaction of $352,720.00. Following the sale, the director owned 13,121 shares of the company’s stock, valued at approximately $4,628,039.12. This trade represents a 7.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,867 shares of company stock worth $2,079,664 in the last 90 days. 0.60% of the stock is owned by company insiders.

LPL Financial Company Profile

LPL Financial Holdings Inc is a financial services company that provides brokerage and investment advisory services through a network of independent financial advisors. Operating primarily in the United States, the company supports advisors who serve individuals, families, businesses and retirement plan participants.

LPL Financial’s platform offers access to investment products and services, including equities, bonds, mutual funds, exchange-traded funds, insurance products, annuities and alternative investments.