New York State Teachers Retirement System Buys 1,658 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

New York State Teachers Retirement System raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 96.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,371 shares of the financial services provider's stock after buying an additional 1,658 shares during the period. New York State Teachers Retirement System's holdings in LPL Financial were worth $784,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of LPLA. Boston Partners grew its holdings in shares of LPL Financial by 71.9% during the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider's stock valued at $466,434,000 after acquiring an additional 738,509 shares in the last quarter. TD Asset Management Inc boosted its holdings in LPL Financial by 33.2% in the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider's stock worth $291,586,000 after purchasing an additional 275,286 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in LPL Financial by 9.9% in the second 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 purchasing an additional 233,242 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in LPL Financial by 31.1% in the second quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider's stock worth $216,227,000 after purchasing an additional 183,755 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in LPL Financial by 52.6% in the second 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 Price Performance

NASDAQ:LPLA traded up $5.68 during mid-day trading on Monday, hitting $317.93. The company's stock had a trading volume of 667,760 shares, compared to its average volume of 746,722. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $321.92. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $23.81 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 1.53 and a beta of 0.85. The stock has a fifty day moving average of $242.47 and a 200-day moving average of $249.55.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company'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 earnings per share. As a group, equities analysts forecast that LPL Financial Holdings Inc. will post 16.08 EPS 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 paid a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.38%. LPL Financial's dividend payout ratio is 9.02%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LPLA. UBS Group upped their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday, October 8th. TD Cowen upped 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, October 31st. Citigroup upped their price target on shares of LPL Financial from $285.00 to $310.00 and gave the company a "buy" rating in a report on Thursday, October 31st. StockNews.com upgraded shares of LPL Financial from a "sell" rating to a "hold" rating in a report on Saturday. Finally, The Goldman Sachs Group upped their price target on shares of LPL Financial from $271.00 to $305.00 and gave the company a "buy" rating in a report on Friday, November 1st. 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 company's stock. According to data from MarketBeat.com, LPL Financial has an average rating of "Moderate Buy" and an average price target 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.