Rockefeller Capital Management L.P. bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,319 shares of the financial services provider's stock, valued at approximately $2,633,000.
A number of other institutional investors have also made changes to their positions in the business. Ashton Thomas Private Wealth LLC acquired a new stake in LPL Financial during the second quarter worth approximately $25,000. Key Financial Inc acquired a new stake in LPL Financial during the 2nd quarter worth approximately $28,000. Ashton Thomas Securities LLC bought a new stake in LPL Financial in the 3rd quarter valued at $31,000. Paladin Wealth LLC acquired a new position in LPL Financial in the 3rd quarter valued at $34,000. Finally, Crewe Advisors LLC grew its holdings in LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider's stock valued at $36,000 after buying an additional 101 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on LPLA shares. Barclays boosted their target price on shares of LPL Financial from $273.00 to $311.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. TD Cowen increased their target price on shares of LPL Financial from $271.00 to $277.00 and gave the stock a "hold" 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 stock a "buy" rating in a research report on Friday, November 1st. Jefferies Financial Group cut their target price on 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, JMP Securities restated a "market outperform" rating and issued a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, LPL Financial has a consensus rating of "Moderate Buy" and a consensus target price of $290.83.
Check Out Our Latest Stock Report on LPL Financial
LPL Financial Price Performance
LPLA stock traded down $3.09 during trading on Friday, reaching $327.56. 388,786 shares of the company were exchanged, compared to its average volume of 504,436. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $332.54. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market capitalization of $24.53 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.60 and a beta of 0.86. The company has a 50-day moving average of $284.54 and a two-hundred day moving average of $257.15.
LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.04 billion. During the same quarter in the prior year, the firm earned $3.74 EPS. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.
LPL Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.37%. LPL Financial's dividend payout ratio is presently 9.02%.
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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