US Bancorp DE Has $4.72 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

US Bancorp DE lessened its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,287 shares of the financial services provider’s stock after selling 991 shares during the quarter. US Bancorp DE’s holdings in LPL Financial were worth $4,720,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LPLA. Ashton Thomas Private Wealth LLC acquired a new stake in LPL Financial during the 2nd quarter worth $25,000. Key Financial Inc acquired a new stake in shares of LPL Financial in the 2nd quarter valued at about $28,000. Paladin Wealth LLC acquired a new stake in shares of LPL Financial in the 3rd quarter valued at about $34,000. Crewe Advisors LLC raised its stake in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the period. Finally, Tortoise Investment Management LLC raised its stake in shares of LPL Financial by 74.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LPLA shares. Keefe, Bruyette & Woods dropped their price target on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Morgan Stanley lifted their price target on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $235.00 to $285.00 in a research note on Wednesday, October 9th. Finally, Citigroup raised their price objective on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Trading Down 2.4 %

LPL Financial stock opened at $273.98 on Tuesday. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $291.67. 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 market capitalization of $20.48 billion, a P/E ratio of 20.60, a PEG ratio of 1.52 and a beta of 0.85. The stock has a 50-day simple moving average of $235.38 and a 200 day simple moving average of $248.45.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter last year, the company posted $3.74 earnings per share. LPL Financial’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that LPL Financial Holdings Inc. will post 15.77 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s dividend payout ratio is presently 9.02%.

LPL Financial Company 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.