BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 19.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,446 shares of the financial services provider's stock after buying an additional 9,917 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.08% of LPL Financial worth $14,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. King Luther Capital Management Corp increased its stake in shares of LPL Financial by 15.7% during the third quarter. King Luther Capital Management Corp now owns 6,778 shares of the financial services provider's stock worth $1,577,000 after purchasing an additional 918 shares in the last quarter. Moran Wealth Management LLC boosted its holdings in LPL Financial by 63.7% in the 3rd quarter. Moran Wealth Management LLC now owns 2,807 shares of the financial services provider's stock valued at $653,000 after purchasing an additional 1,092 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in LPL Financial by 32.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider's stock valued at $90,000 after purchasing an additional 94 shares during the last quarter. Jennison Associates LLC boosted its holdings in LPL Financial by 46.0% in the 3rd quarter. Jennison Associates LLC now owns 94,850 shares of the financial services provider's stock valued at $22,065,000 after purchasing an additional 29,895 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in LPL Financial by 1.8% in the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider's stock valued at $562,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Price Performance

Shares of NASDAQ LPLA traded up $3.61 during midday trading on Friday, hitting $326.85. The company had a trading volume of 526,774 shares, compared to its average volume of 756,937. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $327.55. The business has a 50-day simple moving average of $263.32 and a two-hundred day simple moving average of $252.97. The firm has a market capitalization of $24.47 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 1.58 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating 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 analysts' expectations of $3.04 billion. During the same quarter last year, the business earned $3.74 earnings per share. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.37%. LPL Financial's dividend payout ratio (DPR) is currently 9.02%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. 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. Wells Fargo & Company raised shares of LPL Financial from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $235.00 to $285.00 in a research note on Wednesday, October 9th. The Goldman Sachs Group upped their target price on shares of LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. UBS Group upped their target price on shares of LPL Financial from $215.00 to $250.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group cut their target price on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. One 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 stock. Based on data from MarketBeat, the stock has an average 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.