Robeco Institutional Asset Management B.V. Acquires 190 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Robeco Institutional Asset Management B.V. increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,417 shares of the financial services provider’s stock after purchasing an additional 190 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in LPL Financial were worth $1,725,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of LPL Financial during the 2nd quarter worth about $25,000. Key Financial Inc acquired a new stake in LPL Financial in the 2nd quarter worth approximately $28,000. Paladin Wealth LLC bought a new stake in LPL Financial during the third quarter worth approximately $34,000. Crewe Advisors LLC grew its holdings in LPL Financial by 360.7% during the second 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 last quarter. Finally, Tortoise Investment Management LLC raised its position in shares of LPL Financial by 74.7% in the second 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. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Stock Up 2.4 %

NASDAQ LPLA opened at $312.25 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a 50-day simple moving average of $242.47 and a 200 day simple moving average of $249.66. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $312.50. The stock has a market cap of $23.38 billion, a PE ratio of 23.48, a PEG ratio of 1.51 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the business posted $3.74 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts forecast that LPL Financial Holdings Inc. will post 16.08 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

Analysts Set New Price Targets

A number of research firms recently issued reports on LPLA. TD Cowen raised their target price on shares of LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods decreased their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, July 26th. UBS Group upped their price target on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Citigroup upped their price target on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $286.92.

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.