Geode Capital Management LLC Acquires 36,474 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Geode Capital Management LLC raised its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,436,831 shares of the financial services provider's stock after purchasing an additional 36,474 shares during the period. Geode Capital Management LLC owned 1.92% of LPL Financial worth $333,581,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its position in shares of LPL Financial by 24.4% in the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider's stock worth $772,930,000 after purchasing an additional 650,675 shares during the last quarter. Southpoint Capital Advisors LP grew its stake in LPL Financial by 50.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider's stock worth $174,472,000 after buying an additional 250,000 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of LPL Financial by 9.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider's stock worth $723,329,000 after buying an additional 233,242 shares during the last quarter. Maverick Capital Ltd. raised its position in shares of LPL Financial by 82.0% during the 3rd quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider's stock valued at $115,635,000 after buying an additional 223,931 shares in the last quarter. Finally, Azora Capital LP lifted its holdings in shares of LPL Financial by 52.2% during the 3rd quarter. Azora Capital LP now owns 643,544 shares of the financial services provider's stock worth $149,708,000 after acquiring an additional 220,622 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now directly owns 3,920 shares of the company's stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of research analyst reports. TD Cowen increased their target price on LPL Financial from $271.00 to $277.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. Jefferies Financial Group reduced their price objective on LPL Financial from $309.00 to $282.00 and set a "buy" rating on the stock in a research report on Friday, October 4th. UBS Group boosted their target price on LPL Financial from $215.00 to $250.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. Barclays increased their price target on shares of LPL Financial from $311.00 to $378.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Finally, Morgan Stanley boosted 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, LPL Financial has a consensus rating of "Moderate Buy" and an average price target of $305.17.

LPL Financial Trading Up 0.0 %

Shares of LPLA stock traded up $0.13 during mid-day trading on Friday, reaching $330.23. The stock had a trading volume of 299,395 shares, compared to its average volume of 719,808. The firm has a market capitalization of $24.73 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 1.61 and a beta of 0.86. The stock's 50-day moving average price is $293.80 and its two-hundred day moving average price is $258.80. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $334.38.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the business earned $3.74 EPS. LPL Financial's revenue was up 6.0% compared to the same quarter last year. Equities analysts expect that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.36%. 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.