Principal Financial Group Inc. grew its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 15.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,418 shares of the financial services provider's stock after buying an additional 3,444 shares during the period. Principal Financial Group Inc.'s holdings in LPL Financial were worth $5,913,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of LPL Financial in the 2nd quarter worth approximately $25,000. Key Financial Inc bought a new stake in shares of LPL Financial in the 2nd quarter worth approximately $28,000. Crewe Advisors LLC lifted its holdings in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider's stock worth $36,000 after acquiring an additional 101 shares during the last quarter. Tortoise Investment Management LLC raised its holdings in LPL Financial by 74.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider's stock valued at $37,000 after buying an additional 56 shares during the last quarter. Finally, Paladin Wealth LLC bought a new stake in LPL Financial during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 95.66% of the company's stock.
LPL Financial Price Performance
LPLA opened at $317.05 on Thursday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market capitalization of $23.74 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.54 and a beta of 0.85. The company's 50-day simple moving average is $258.57 and its two-hundred day simple moving average is $252.31. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $322.03.
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. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.04 billion. During the same quarter in the prior year, the business earned $3.74 EPS. The business's quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts predict that LPL Financial Holdings Inc. will post 16.08 EPS for the current year.
LPL Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Thursday, November 14th. LPL Financial's dividend payout ratio (DPR) is presently 9.02%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. 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. Barclays upped their price target on shares of LPL Financial from $273.00 to $311.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. JMP Securities reiterated a "market outperform" rating and set a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. Wells Fargo & Company upgraded shares of LPL Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. Finally, Bank of America upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and set a $268.00 price target for the company in a report on Tuesday, July 30th. One 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $286.92.
Check Out Our Latest Research Report on LPL Financial
LPL Financial Company 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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