Los Angeles Capital Management LLC Invests $305,000 in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Los Angeles Capital Management LLC bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,313 shares of the financial services provider’s stock, valued at approximately $305,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Acadian Asset Management LLC grew its stake in LPL Financial by 533.8% during the 1st quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock valued at $1,359,000 after acquiring an additional 4,340 shares in the last quarter. Swedbank AB purchased a new stake in LPL Financial during the 1st quarter valued at about $3,648,000. Raymond James & Associates grew its stake in LPL Financial by 5.4% during the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock valued at $110,070,000 after acquiring an additional 20,123 shares in the last quarter. National Bank of Canada FI grew its stake in LPL Financial by 421.7% during the 1st quarter. National Bank of Canada FI now owns 119,772 shares of the financial services provider’s stock valued at $32,175,000 after acquiring an additional 96,816 shares in the last quarter. Finally, Coronation Fund Managers Ltd. grew its stake in LPL Financial by 68.2% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider’s stock valued at $50,586,000 after acquiring an additional 88,196 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Down 0.2 %

Shares of NASDAQ:LPLA opened at $314.02 on Monday. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $322.03. The company’s 50 day moving average is $252.22 and its two-hundred day moving average is $251.23. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market cap of $23.51 billion, a PE ratio of 23.61, a P/E/G ratio of 1.54 and a beta of 0.85.

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

LPL Financial Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s dividend payout ratio (DPR) is 9.02%.

Analyst Upgrades and Downgrades

LPLA has been the topic of several recent analyst reports. Citigroup boosted their target price 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. Keefe, Bruyette & Woods decreased their target price on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective on the stock in a report on Tuesday, July 30th. Barclays upped their price objective on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Morgan Stanley upped their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $286.92.

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.