LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 106.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,020 shares of the financial services provider's stock after purchasing an additional 4,134 shares during the period. Harbor Capital Advisors Inc.'s holdings in LPL Financial were worth $1,866,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LPLA. F M Investments LLC acquired a new position in shares of LPL Financial during the third quarter valued at approximately $2,063,000. Stephens Inc. AR grew its holdings in shares of LPL Financial by 5.2% during the third quarter. Stephens Inc. AR now owns 1,054 shares of the financial services provider's stock valued at $245,000 after buying an additional 52 shares in the last quarter. United Asset Strategies Inc. grew its holdings in shares of LPL Financial by 2.7% during the third quarter. United Asset Strategies Inc. now owns 11,236 shares of the financial services provider's stock valued at $2,614,000 after buying an additional 292 shares in the last quarter. Financial Advocates Investment Management acquired a new stake in LPL Financial during the third quarter valued at $205,000. Finally, Iridian Asset Management LLC CT boosted its position in LPL Financial by 77.7% during the third quarter. Iridian Asset Management LLC CT now owns 82,834 shares of the financial services provider's stock valued at $19,270,000 after purchasing an additional 36,212 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LPLA. Barclays boosted their price objective on LPL Financial from $273.00 to $311.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price target on LPL Financial from $271.00 to $305.00 and gave the company a "buy" rating in a research note on Friday. Keefe, Bruyette & Woods cut their price target on LPL Financial from $326.00 to $315.00 and set an "outperform" rating on the stock in a research note on Friday, July 26th. Jefferies Financial Group lowered their price objective on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating for the company in a research report on Friday, October 4th. Finally, TD Cowen increased their target price on LPL Financial from $271.00 to $277.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $286.92.

LPL Financial Stock Performance

Shares of LPLA stock traded up $1.83 during trading hours on Tuesday, reaching $275.81. The company had a trading volume of 945,298 shares, compared to its average volume of 741,394. The business has a fifty day moving average price of $237.32 and a 200-day moving average price of $248.64. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $291.67. The firm has a market cap of $20.62 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.39 and a beta of 0.85. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the firm earned $3.74 earnings per share. The company's revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts predict that LPL Financial Holdings Inc. will post 15.92 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial's dividend payout ratio (DPR) is 9.02%.

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.