LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 31.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 774,175 shares of the financial services provider’s stock after purchasing an additional 183,755 shares during the period. The Manufacturers Life Insurance Company owned approximately 1.04% of LPL Financial worth $216,227,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LPLA. MBB Public Markets I LLC boosted its holdings in LPL Financial by 569.0% during the second quarter. MBB Public Markets I LLC now owns 5,131 shares of the financial services provider’s stock worth $1,433,000 after buying an additional 4,364 shares in the last quarter. Darlington Partners Capital Management LP grew its holdings in shares of LPL Financial by 9.5% in the 2nd quarter. Darlington Partners Capital Management LP now owns 783,290 shares of the financial services provider’s stock worth $218,773,000 after acquiring an additional 68,276 shares during the period. DE Burlo Group Inc. acquired a new stake in LPL Financial in the second quarter valued at $209,000. APG Asset Management N.V. lifted its holdings in shares of LPL Financial by 307.2% in the second quarter. APG Asset Management N.V. now owns 11,665 shares of the financial services provider’s stock valued at $3,040,000 after purchasing an additional 8,800 shares in the last quarter. Finally, Point72 Europe London LLP acquired a new stake in shares of LPL Financial in the second quarter valued at approximately $5,474,000. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. JMP Securities upped their price objective on LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a research report on Friday, July 26th. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective for the company in a research report on Tuesday, July 30th. Barclays reduced their target price 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. Finally, Keefe, Bruyette & Woods lowered 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. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $274.92.

LPL Financial Stock Down 0.5 %

LPLA opened at $229.27 on Friday. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $289.88. The firm has a 50 day moving average price of $215.33 and a 200 day moving average price of $250.76. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market cap of $17.13 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data 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 analyst estimates of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.94 earnings per share. Sell-side analysts expect that LPL Financial Holdings Inc. will post 15.88 earnings per share for the current year.

LPL Financial Announces Dividend

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