Swedbank AB Raises Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Swedbank AB lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 19.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,429 shares of the financial services provider's stock after purchasing an additional 2,720 shares during the quarter. Swedbank AB's holdings in LPL Financial were worth $3,822,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LPLA. Intech Investment Management LLC grew its holdings in LPL Financial by 38.8% in the 1st quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider's stock valued at $11,057,000 after buying an additional 11,703 shares during the period. Acadian Asset Management LLC raised its stake in LPL Financial by 533.8% during the first quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider's stock worth $1,359,000 after purchasing an additional 4,340 shares during the period. Sei Investments Co. boosted its holdings in shares of LPL Financial by 23.4% in the 1st quarter. Sei Investments Co. now owns 113,254 shares of the financial services provider's stock valued at $29,923,000 after purchasing an additional 21,481 shares during the last quarter. Raymond James & Associates grew its stake in shares of LPL Financial by 5.4% during the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider's stock valued at $110,070,000 after buying an additional 20,123 shares during the period. Finally, National Bank of Canada FI increased its holdings in shares of LPL Financial by 421.7% during the 1st quarter. National Bank of Canada FI now owns 119,772 shares of the financial services provider's stock worth $32,175,000 after buying an additional 96,816 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Stock Down 1.4 %

Shares of NASDAQ LPLA traded down $3.60 during mid-day trading on Friday, hitting $258.62. The company had a trading volume of 1,876,339 shares, compared to its average volume of 739,401. The firm has a 50-day simple moving average of $225.63 and a two-hundred day simple moving average of $248.32. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $289.88. 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 company has a market capitalization of $19.32 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The firm 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 firm posted $3.94 EPS. The business's revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities analysts expect that LPL Financial Holdings Inc. will post 15.79 EPS for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Friday, August 9th. LPL Financial's dividend payout ratio is currently 9.06%.

Wall Street Analyst Weigh In

Several brokerages have commented on LPLA. JPMorgan Chase & Co. upped 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. Keefe, Bruyette & Woods decreased their price target on shares of LPL Financial from $326.00 to $315.00 and set an "outperform" rating for the company in a research report on Friday, July 26th. Morgan Stanley upped their price objective on LPL Financial from $303.00 to $309.00 and gave the company an "overweight" rating in a research note on Thursday. TD Cowen increased their target price on shares of LPL Financial from $243.00 to $255.00 and gave the stock a "hold" rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group reduced their price objective on LPL Financial from $289.00 to $271.00 and set a "buy" rating for the company in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $277.77.

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.