LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock Holdings Lifted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 24.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,521 shares of the financial services provider’s stock after buying an additional 2,081 shares during the period. Daiwa Securities Group Inc.’s holdings in LPL Financial were worth $2,939,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in shares of LPL Financial in the second quarter valued at $25,000. Key Financial Inc bought a new position in shares of LPL Financial in the second quarter valued at $28,000. Riverview Trust Co bought a new position in shares of LPL Financial in the first quarter valued at $30,000. Crewe Advisors LLC increased its holdings in shares of LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after buying an additional 101 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its stake in LPL Financial by 74.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares during the period. Institutional investors own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LPLA. Keefe, Bruyette & Woods lowered their price target on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. TD Cowen lifted their target price on LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Jefferies Financial Group increased their price target on shares of LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Wells Fargo & Company initiated coverage on shares of LPL Financial in a research report on Thursday. They set an “equal weight” rating and a $235.00 price objective on the stock. Finally, Barclays cut their target price on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, LPL Financial has a consensus rating of “Hold” and an average target price of $275.27.

LPL Financial Trading Down 0.6 %

LPL Financial stock opened at $205.71 on Friday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $289.88. The company’s fifty day moving average price is $223.27 and its two-hundred day moving average price is $254.20. 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 company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.20 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.22. The company 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 firm’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.94 EPS. On average, analysts forecast that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.58%. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

LPL Financial Company 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.