LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC raised its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 9.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,589,793 shares of the financial services provider’s stock after acquiring an additional 233,242 shares during the quarter. LPL Financial makes up about 1.8% of Kayne Anderson Rudnick Investment Management LLC’s holdings, making the stock its 9th largest holding. Kayne Anderson Rudnick Investment Management LLC’s holdings in LPL Financial were worth $723,329,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of LPLA. DGS Capital Management LLC raised its holdings in LPL Financial by 2.8% during the first quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 44 shares in the last quarter. Oliver Luxxe Assets LLC raised its stake in shares of LPL Financial by 0.6% during the 4th quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock worth $1,856,000 after buying an additional 48 shares in the last quarter. Tortoise Investment Management LLC raised its stake in shares of LPL Financial by 74.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after buying an additional 56 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in shares of LPL Financial by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 5,860 shares of the financial services provider’s stock valued at $1,637,000 after buying an additional 56 shares during the period. Finally, Gulf International Bank UK Ltd boosted its stake in shares of LPL Financial by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock valued at $1,693,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Down 2.4 %

Shares of LPL Financial stock opened at $215.52 on Friday. The business has a 50 day moving average price of $216.25 and a 200 day moving average price of $251.88. The company has a market capitalization of $16.10 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.20 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $289.88.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.22. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The business’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.94 earnings per share. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 15.9 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.56%. LPL Financial’s dividend payout ratio is currently 9.06%.

Analyst Ratings Changes

LPLA has been the subject of several research analyst reports. Jefferies Financial Group increased their price objective on LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a research report on Monday, July 8th. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective for the company in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective 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. JMP Securities increased their target price on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a report on Friday, July 26th. Finally, TD Cowen boosted their price target on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LPL Financial has an average rating of “Hold” and a consensus target price of $275.27.

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.