Mackenzie Financial Corp Purchases 278 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mackenzie Financial Corp grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,696 shares of the financial services provider’s stock after purchasing an additional 278 shares during the period. Mackenzie Financial Corp’s holdings in LPL Financial were worth $2,987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its stake in shares of LPL Financial by 20.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 922 shares of the financial services provider’s stock valued at $210,000 after acquiring an additional 155 shares during the last quarter. Bank of Nova Scotia grew its holdings in shares of LPL Financial by 37.2% in the fourth quarter. Bank of Nova Scotia now owns 16,209 shares of the financial services provider’s stock worth $3,689,000 after purchasing an additional 4,391 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of LPL Financial by 1,911.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 99,703 shares of the financial services provider’s stock worth $22,694,000 after buying an additional 94,746 shares during the period. CIBC Private Wealth Group LLC boosted its position in LPL Financial by 45.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 9,724 shares of the financial services provider’s stock valued at $2,213,000 after buying an additional 3,046 shares during the period. Finally, Blueshift Asset Management LLC bought a new stake in LPL Financial in the 4th quarter worth $227,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LPLA shares. JMP Securities upped their price objective 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, July 26th. The Goldman Sachs Group dropped their price target on LPL Financial from $289.00 to $271.00 and set a “buy” rating for the company in a research note on Thursday, September 26th. Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective on the stock in a research report on Tuesday, July 30th. StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Jefferies Financial Group boosted their price target on shares of LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $275.69.

LPL Financial Trading Up 0.5 %

LPL Financial stock opened at $231.07 on Thursday. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $289.88. The company has a market capitalization of $17.26 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.27 and a beta of 0.88. The business’s fifty day simple moving average is $216.27 and its two-hundred day simple moving average is $249.85. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.66 by $0.22. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. LPL Financial’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.94 EPS. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 15.88 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

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

LPL Financial 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.