Markel Group Inc. Increases Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Markel Group Inc. raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 8.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 520,404 shares of the financial services provider's stock after acquiring an additional 38,613 shares during the quarter. LPL Financial makes up approximately 1.1% of Markel Group Inc.'s holdings, making the stock its 28th largest position. Markel Group Inc. owned 0.70% of LPL Financial worth $121,062,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of LPL Financial in the second quarter worth $25,000. Key Financial Inc purchased a new stake in LPL Financial during the second quarter valued at approximately $28,000. Paladin Wealth LLC purchased a new stake in LPL Financial during the 3rd quarter valued at $34,000. Crewe Advisors LLC lifted its holdings in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider's stock worth $36,000 after acquiring an additional 101 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its position in LPL Financial by 74.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider's stock worth $37,000 after purchasing an additional 56 shares during the period. Institutional investors own 95.66% of the company's stock.

LPL Financial Trading Up 2.4 %

NASDAQ LPLA traded up $7.35 during trading hours on Friday, reaching $312.25. The company had a trading volume of 883,353 shares, compared to its average volume of 877,870. The stock has a 50-day moving average of $242.47 and a 200 day moving average of $249.78. 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 1-year low of $187.19 and a 1-year high of $312.50. The stock has a market capitalization of $23.38 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 1.51 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 earnings per share (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 during the quarter, compared to analysts' expectations of $3.04 billion. During the same quarter last year, the business posted $3.74 EPS. The business's quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate 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 declared 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. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. LPL Financial's dividend payout ratio (DPR) is presently 9.02%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised shares of LPL Financial from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $235.00 to $285.00 in a research report on Wednesday, October 9th. Jefferies Financial Group decreased their price target on LPL Financial from $309.00 to $282.00 and set a "buy" rating for the company in a research note on Friday, October 4th. 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. Barclays raised their target price 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 raised their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. One investment 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.