4,138 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Acquired by Aigen Investment Management LP

Aigen Investment Management LP purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,138 shares of the financial services provider's stock, valued at approximately $963,000.

Several other large investors have also recently added to or reduced their stakes in LPLA. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of LPL Financial by 2.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 175,199 shares of the financial services provider's stock valued at $40,757,000 after acquiring an additional 4,572 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of LPL Financial by 116.9% during the third quarter. GSA Capital Partners LLP now owns 2,978 shares of the financial services provider's stock valued at $693,000 after acquiring an additional 1,605 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of LPL Financial during the third quarter valued at about $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of LPL Financial during the third quarter valued at about $305,000. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of LPL Financial by 0.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 27,408 shares of the financial services provider's stock valued at $6,376,000 after acquiring an additional 165 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Performance

LPLA stock traded down $2.56 during midday trading on Wednesday, reaching $314.68. The company had a trading volume of 442,128 shares, compared to its average volume of 743,831. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a 50 day moving average price of $248.20 and a 200 day moving average price of $250.73. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $321.92. The firm has a market capitalization of $23.56 billion, a PE ratio of 23.66, a P/E/G ratio of 1.55 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business's revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.74 earnings per share. Analysts anticipate that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. LPL Financial's dividend payout ratio is presently 9.02%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LPLA. 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 research note on Tuesday, July 30th. StockNews.com raised shares of LPL Financial from a "sell" rating to a "hold" rating in a research report on Saturday. The Goldman Sachs Group increased their price target on shares of LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Wells Fargo & Company raised shares of LPL Financial from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. Finally, UBS Group increased their price target 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, LPL Financial currently has a consensus rating of "Moderate Buy" and an average price target of $286.92.

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.