Coronation Fund Managers Ltd. Has $50.59 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Coronation Fund Managers Ltd. raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 68.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 217,451 shares of the financial services provider's stock after purchasing an additional 88,196 shares during the period. LPL Financial accounts for approximately 2.8% of Coronation Fund Managers Ltd.'s holdings, making the stock its 9th biggest holding. Coronation Fund Managers Ltd. owned 0.29% of LPL Financial worth $50,586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of LPLA. Boston Partners lifted its stake in shares of LPL Financial by 71.9% in the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider's stock worth $466,434,000 after acquiring an additional 738,509 shares during the period. TD Asset Management Inc lifted its stake in shares of LPL Financial by 33.2% in the 1st quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider's stock worth $291,586,000 after acquiring an additional 275,286 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake 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 acquiring an additional 233,242 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of LPL Financial by 31.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider's stock worth $216,227,000 after acquiring an additional 183,755 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of LPL Financial by 52.6% in the 2nd quarter. American Century Companies Inc. now owns 477,211 shares of the financial services provider's stock worth $133,285,000 after purchasing an additional 164,586 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

Shares of NASDAQ LPLA traded down $1.37 during trading hours on Friday, hitting $280.81. 1,022,341 shares of the stock were exchanged, compared to its average volume of 805,129. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. The company's 50 day moving average is $235.38 and its 200 day moving average is $248.52. The firm has a market capitalization of $20.99 billion, a P/E ratio of 21.11, a P/E/G ratio of 1.52 and a beta of 0.85. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $291.67.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.47. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. LPL Financial's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.74 EPS. On average, research analysts expect that LPL Financial Holdings Inc. will post 15.77 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Thursday, November 14th. LPL Financial's dividend payout ratio (DPR) is presently 9.02%.

Analyst Ratings Changes

A number of analysts recently commented on LPLA shares. Bank of America upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and set a $268.00 target price on the stock in a report on Tuesday, July 30th. TD Cowen boosted their price target on shares of LPL Financial from $271.00 to $277.00 and gave the company a "hold" rating in a report on Thursday. JMP Securities restated a "market outperform" rating and set a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. Jefferies Financial Group dropped their price objective on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of LPL Financial from $326.00 to $315.00 and set an "outperform" rating on the stock in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $286.92.

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.