Empowered Funds LLC Grows Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Empowered Funds LLC grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 49.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,285 shares of the financial services provider's stock after purchasing an additional 4,702 shares during the quarter. Empowered Funds LLC's holdings in LPL Financial were worth $3,323,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Sheaff Brock Investment Advisors LLC raised its holdings in LPL Financial by 4.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 8,634 shares of the financial services provider's stock worth $2,009,000 after purchasing an additional 358 shares during the period. OneDigital Investment Advisors LLC increased its position in shares of LPL Financial by 27.9% in the third quarter. OneDigital Investment Advisors LLC now owns 5,081 shares of the financial services provider's stock valued at $1,182,000 after buying an additional 1,107 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of LPL Financial by 2.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,218 shares of the financial services provider's stock worth $516,000 after buying an additional 49 shares during the period. Metis Global Partners LLC lifted its position in shares of LPL Financial by 5.1% during the 3rd quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider's stock valued at $220,000 after buying an additional 46 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in LPL Financial by 419.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,239 shares of the financial services provider's stock valued at $3,545,000 after acquiring an additional 12,304 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Trading Down 0.1 %

LPLA traded down $0.24 during trading hours on Tuesday, reaching $314.53. The company's stock had a trading volume of 429,889 shares, compared to its average volume of 740,508. The stock has a market cap of $23.55 billion, a PE ratio of 23.65, a P/E/G ratio of 1.54 and a beta of 0.85. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $322.03. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The business's 50-day moving average is $256.42 and its 200-day moving average is $251.86.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results 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 return on equity of 49.47% and a net margin of 8.73%. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the company posted $3.74 EPS. The company's quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared 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 of this dividend 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%.

Wall Street Analyst Weigh In

LPLA has been the topic of several research reports. Bank of America upgraded LPL Financial from a "neutral" rating to a "buy" rating and set a $268.00 target price on the stock in a research report on Tuesday, July 30th. UBS Group raised their price objective on LPL Financial from $215.00 to $250.00 and gave the company a "neutral" rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods dropped their target price 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. JMP Securities reissued a "market outperform" rating and issued a $310.00 price target on shares of LPL Financial in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group lowered their price target on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating on the stock in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.