CX Institutional Acquires New Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

CX Institutional bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,643 shares of the financial services provider’s stock, valued at approximately $382,000.

Several other hedge funds also recently modified their holdings of the business. Paladin Wealth LLC acquired a new position in shares of LPL Financial during the 3rd quarter valued at about $34,000. Oliver Luxxe Assets LLC boosted its position in LPL Financial by 1.7% during the third quarter. Oliver Luxxe Assets LLC now owns 8,373 shares of the financial services provider’s stock worth $1,948,000 after purchasing an additional 144 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in LPL Financial by 314.0% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 15,801 shares of the financial services provider’s stock worth $3,676,000 after purchasing an additional 11,984 shares during the period. Annex Advisory Services LLC grew its holdings in LPL Financial by 35.1% during the third quarter. Annex Advisory Services LLC now owns 15,606 shares of the financial services provider’s stock valued at $3,630,000 after purchasing an additional 4,056 shares during the last quarter. Finally, Family Wealth Partners LLC raised its position in shares of LPL Financial by 0.4% in the third quarter. Family Wealth Partners LLC now owns 147,896 shares of the financial services provider’s stock valued at $34,405,000 after purchasing an additional 608 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LPLA shares. Barclays dropped 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. StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. TD Cowen increased 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. Bank of America raised LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target on the stock in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group reduced their price objective on LPL Financial from $289.00 to $271.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $277.77.

LPL Financial Stock Performance

LPL Financial stock opened at $262.22 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 current ratio of 2.16 and a quick ratio of 2.16. The stock has a fifty day moving average price of $223.10 and a two-hundred day moving average price of $248.28. The firm has a market capitalization of $19.59 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.32 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 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. The firm had revenue of $2.93 billion for 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 company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.94 earnings per share. As a group, analysts anticipate that LPL Financial Holdings Inc. will post 15.79 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.46%. LPL Financial’s dividend 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.