Point72 Europe London LLP Makes New $5.47 Million Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Point72 Europe London LLP bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,600 shares of the financial services provider's stock, valued at approximately $5,474,000.

Several other hedge funds have also recently bought and sold shares of LPLA. Ashton Thomas Private Wealth LLC purchased a new stake in shares of LPL Financial in the second quarter worth about $25,000. Key Financial Inc purchased a new position in LPL Financial in the 2nd quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in LPL Financial in the first quarter valued at approximately $30,000. Crewe Advisors LLC raised its stake in shares of LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 101 shares during the period. Finally, Tortoise Investment Management LLC lifted its position in shares of LPL Financial by 74.7% during the second 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 in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on LPLA. JMP Securities raised their price target on shares of LPL Financial from $305.00 to $310.00 and gave the company a "market outperform" rating in a report on Friday, July 26th. Wells Fargo & Company initiated coverage on LPL Financial in a research note on Thursday, September 12th. They set an "equal weight" rating and a $235.00 target price for the company. JPMorgan Chase & Co. boosted their price target on LPL Financial from $261.00 to $268.00 and gave the stock a "neutral" rating in a research note on Thursday, July 11th. Bank of America upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and set a $268.00 price target for the company in a research note on Tuesday, July 30th. Finally, Barclays cut their price target on shares of LPL Financial from $313.00 to $273.00 and set an "overweight" rating on the stock in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $275.27.

LPL Financial Stock Performance

NASDAQ LPLA traded up $8.35 during trading hours on Wednesday, reaching $230.35. The company's stock had a trading volume of 1,260,028 shares, compared to its average volume of 725,366. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. The business has a 50-day simple moving average of $215.04 and a 200 day simple moving average of $251.06. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $289.88. The stock has a market cap of $17.21 billion, a PE ratio of 17.16, a PEG ratio of 1.27 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the company posted $3.94 earnings per share. The company's revenue for the quarter was up 18.8% compared to the same quarter last year. Equities research analysts predict that LPL Financial Holdings Inc. will post 15.88 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Friday, August 9th. LPL Financial's dividend payout ratio (DPR) is 9.06%.

LPL Financial 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.