LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock Position Raised by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3,600.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,318 shares of the financial services provider’s stock after acquiring an additional 52,850 shares during the quarter. Thrivent Financial for Lutherans’ holdings in LPL Financial were worth $15,171,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of LPL Financial during the 2nd quarter worth $25,000. Key Financial Inc bought a new stake in shares of LPL Financial during the 2nd quarter worth $28,000. Riverview Trust Co bought a new stake in shares of LPL Financial during the 1st quarter worth $30,000. Crewe Advisors LLC boosted its stake in shares of LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 101 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted 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 acquiring an additional 56 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $222.00 on Wednesday. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $289.88. The business has a 50-day moving average of $215.04 and a two-hundred day moving average of $251.06. The stock has a market capitalization of $16.59 billion, a P/E ratio of 16.77, 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 (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.94 earnings per share. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 15.9 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.30 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.54%. LPL Financial’s payout ratio is presently 9.06%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LPLA shares. Barclays reduced their price objective on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price for the company in a report on Tuesday, July 30th. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. JMP Securities increased their price objective on LPL Financial from $305.00 to $310.00 and gave the stock a “market outperform” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group lifted their price objective on LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a research report on Monday, July 8th. One equities 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $275.27.

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.