Oppenheimer Asset Management Inc. boosted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 419.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,239 shares of the financial services provider's stock after buying an additional 12,304 shares during the period. Oppenheimer Asset Management Inc.'s holdings in LPL Financial were worth $3,545,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new stake in LPL Financial in the 2nd quarter valued at about $25,000. Key Financial Inc bought a new stake in shares of LPL Financial during the second quarter valued at approximately $28,000. Crewe Advisors LLC boosted its position 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 worth $36,000 after buying an additional 101 shares during the period. Tortoise Investment Management LLC grew its holdings in LPL Financial by 74.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider's stock worth $37,000 after buying an additional 56 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in LPL Financial in the 3rd quarter valued at approximately $31,000. 95.66% of the stock is currently owned by institutional investors.
LPL Financial Stock Down 0.2 %
Shares of LPLA traded down $0.52 during mid-day trading on Friday, reaching $314.02. The company's stock had a trading volume of 402,411 shares, compared to its average volume of 742,722. The company has a market cap of $23.51 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. The business has a fifty day moving average of $252.22 and a 200 day moving average of $251.33. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $322.03.
LPL Financial (NASDAQ:LPLA - Get Free Report) last announced 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 firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.74 EPS. As a group, analysts forecast that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current fiscal year.
LPL Financial Announces Dividend
The business 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 $0.30 dividend. 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 presently 9.02%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on LPLA. The Goldman Sachs Group boosted their price target on LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. UBS Group upped their target price on LPL Financial from $215.00 to $250.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. StockNews.com raised LPL Financial from a "sell" rating to a "hold" rating in a research note on Saturday, November 9th. Morgan Stanley boosted their price objective on LPL Financial from $303.00 to $309.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Finally, TD Cowen raised their target price on LPL Financial from $271.00 to $277.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. One equities research 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 MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $286.92.
Read Our Latest Stock Analysis on LPLA
LPL Financial Profile
(
Free Report)
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.
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