Mercer Global Advisors Inc. ADV decreases position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mercer Global Advisors Inc. ADV reduced its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 16.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,922 shares of the financial services provider’s stock after selling 796 shares during the quarter. Holdings of Mercer Global Advisors Inc. ADV in LPL Financial were worth $1,095,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. DGS Capital Management LLC grew its position in LPL Financial by 2.8% in the first quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 44 shares during the period. Oliver Luxxe Assets LLC grew its position in shares of LPL Financial by 0.6% during the 4th quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock worth $1,856,000 after acquired another 48 shares during the period. Tortoise Investment Management LLC boosted its stake in LPL Financial by 74.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after buying an additional 56 shares during the period. of shares in the last quarter. Gulf International Bank UK Ltd boosted its holdings in LPL Financial by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock worth $1,693,000 after purchasing an additional 60 shares during the period. Finally, LVW Advisors LLC boosted its position in LPL Financial by 1.9% in the first quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock worth $857,000 after purchasing an additional 61 shares during the last quarter. 95.66% of shares are held by hedge funds and other institutional investors.

LPL financial price performance

Shares of LPLA opened at $230.35 on Thursday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $289.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16, and a quick ratio of 2.16. The firm has a market cap of $17.21 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The company has a 50-day simple moving average of $215.12 and a 200-day simple moving average of $250.91.

LPL Financial (NASDAQ:LPLA – Get Your Free Report ) last posted its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The company’s revenue for the quarter was up 18.8% year over year. In the same period last year, the company earned $3.94 EPS. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 15.88 earnings per share for the current fiscal year.

LPL Financial announces dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 9. This represents an annualized dividend of $1.20 and a yield of 0.52%. LPL Financial’s payout ratio is 9.06%.

Analyst upgrades and downgrades

A number of research firms have recently commented on LPLA. Jefferies Financial Group boosted their price objective on LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Keefe, Bruyette & Woods cut their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Barclays decreased their price objective on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a research report on Tuesday, July 30th. Finally, JMP Securities upped their target price on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a research note on Friday, 26 July. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $275.27, according to MarketBeat.com.

See our latest analysis of LPLA

LPL Financial Company Profile

(Free Report)

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and corporate financial advisors in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, stocks, fixed income, alternative investments, retirement plans and 529 education and insurance savings.

See Also

Want to see what other hedge funds own LPLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report).

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