Mattson Financial Services LLC Invests $450,000 in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mattson Financial Services LLC acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,612 shares of the financial services provider’s stock, valued at approximately $450,000.

Several other large investors also recently modified their holdings of LPLA. Steward Partners Investment Advisory LLC boosted its position in LPL Financial by 20.2% during the fourth 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. The Manufacturers Life Insurance Company boosted its position in shares of LPL Financial by 1,911.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 99,703 shares of the financial services provider’s stock valued at $22,694,000 after purchasing an additional 94,746 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in LPL Financial by 45.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 9,724 shares of the financial services provider’s stock worth $2,213,000 after purchasing an additional 3,046 shares during the period. Crossmark Global Holdings Inc. increased its holdings in LPL Financial by 17.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,597 shares of the financial services provider’s stock worth $1,046,000 after purchasing an additional 689 shares in the last quarter. Finally, Vinva Investment Management Ltd acquired a new position in LPL Financial in the fourth quarter valued at approximately $270,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Performance

Shares of LPLA opened at $235.84 on Friday. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $289.88. 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 stock has a 50 day moving average price of $216.36 and a two-hundred day moving average price of $249.72. The firm has a market capitalization of $17.62 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.27 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA) last announced 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. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the company posted $3.94 earnings per share. LPL Financial’s revenue was up 18.8% compared to the same quarter last year. Equities analysts forecast 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 declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Friday, August 9th. LPL Financial’s payout ratio is currently 9.06%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LPLA shares. Citigroup reduced their price objective on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, September 27th. JPMorgan Chase & Co. raised their price target on shares of LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. TD Cowen upped their price objective on shares of LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods cut their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, JMP Securities boosted their target price 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $275.69.

About LPL Financial

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.