LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by Private Advisor Group LLC

Private Advisor Group LLC lifted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,098 shares of the financial services provider’s stock after purchasing an additional 276 shares during the period. Private Advisor Group LLC’s holdings in LPL Financial were worth $6,304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LPLA. Boston Partners lifted its stake in shares of LPL Financial by 71.9% in the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after purchasing an additional 738,509 shares during the period. TD Asset Management Inc raised its position in LPL Financial by 33.2% during the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock worth $291,586,000 after acquiring an additional 275,286 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in LPL Financial by 9.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after acquiring an additional 233,242 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in LPL Financial by 31.1% during the second quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider’s stock worth $216,227,000 after acquiring an additional 183,755 shares during the last quarter. Finally, Coronation Fund Managers Ltd. raised its position in LPL Financial by 159.5% during the first quarter. Coronation Fund Managers Ltd. now owns 298,178 shares of the financial services provider’s stock worth $78,779,000 after acquiring an additional 183,290 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Down 0.4 %

Shares of LPLA opened at $260.93 on Friday. The firm has a market cap of $19.51 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.38 and a beta of 0.88. The company’s fifty day moving average is $230.38 and its two-hundred day moving average is $248.24. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $289.88. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the business earned $3.94 EPS. LPL Financial’s revenue for the quarter was up 18.8% on a year-over-year basis. Analysts forecast that LPL Financial Holdings Inc. will post 15.71 earnings per share for the current year.

Analysts Set New Price Targets

LPLA has been the subject of a number of research reports. StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. UBS Group lifted their target price on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Morgan Stanley lifted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. 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 note on Tuesday, July 30th. Finally, Barclays lowered their target price on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $277.77.

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.