Oppenheimer Asset Management Inc. Grows Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Oppenheimer Asset Management Inc. raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,935 shares of the financial services provider’s stock after buying an additional 148 shares during the period. Oppenheimer Asset Management Inc.’s holdings in LPL Financial were worth $820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in LPL Financial by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock valued at $1,625,446,000 after purchasing an additional 48,439 shares in the last quarter. Boston Partners grew its holdings in LPL Financial by 71.9% in the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after purchasing an additional 738,509 shares during the last quarter. TD Asset Management Inc raised its stake in shares of LPL Financial by 33.2% during the 1st quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock worth $291,586,000 after buying an additional 275,286 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of LPL Financial by 2.5% during the 1st quarter. Bank of New York Mellon Corp now owns 970,749 shares of the financial services provider’s stock worth $256,472,000 after buying an additional 23,890 shares during the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in shares of LPL Financial by 19.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock worth $245,011,000 after buying an additional 153,072 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their target price 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. JMP Securities lifted their price objective on LPL Financial from $305.00 to $310.00 and gave the stock a “market outperform” rating in a research report on Friday, July 26th. UBS Group dropped their price target on LPL Financial from $290.00 to $215.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Wells Fargo & Company started coverage on LPL Financial in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 price objective on the stock. Finally, TD Cowen increased their price objective on LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research note on Friday, July 26th. 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $275.27.

LPL Financial Trading Up 4.1 %

NASDAQ LPLA opened at $220.83 on Friday. The company has a market cap of $16.50 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.20 and a beta of 0.88. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month 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 company has a 50-day moving average of $217.22 and a 200-day moving average of $252.25.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm posted $3.94 earnings per share. LPL Financial’s revenue was up 18.8% on a year-over-year basis. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Friday, August 9th. LPL Financial’s payout ratio is currently 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.