LPL Financial Holdings Inc. (NASDAQ:LPLA) Holdings Raised by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,199 shares of the financial services provider's stock after buying an additional 4,572 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of LPL Financial worth $40,757,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LPLA. Intech Investment Management LLC lifted its stake in shares of LPL Financial by 38.8% during the 1st quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider's stock worth $11,057,000 after purchasing an additional 11,703 shares during the period. Acadian Asset Management LLC grew its holdings in LPL Financial by 533.8% in the 1st quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider's stock valued at $1,359,000 after buying an additional 4,340 shares during the period. Swedbank AB acquired a new position in shares of LPL Financial during the 1st quarter valued at about $3,648,000. Raymond James & Associates lifted its holdings in shares of LPL Financial by 5.4% during the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider's stock worth $110,070,000 after acquiring an additional 20,123 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of LPL Financial by 421.7% during the 1st quarter. National Bank of Canada FI now owns 119,772 shares of the financial services provider's stock worth $32,175,000 after acquiring an additional 96,816 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LPLA shares. Citigroup upped their price target on shares of LPL Financial from $285.00 to $310.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. TD Cowen increased their target price on 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 lifted their target price on LPL Financial from $271.00 to $305.00 and gave the company a "buy" rating in a report on Friday, November 1st. Wells Fargo & Company upgraded LPL Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $235.00 to $285.00 in a research note on Wednesday, October 9th. Finally, StockNews.com raised LPL Financial from a "sell" rating to a "hold" rating in a research note on Saturday, November 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $286.92.

LPL Financial Stock Down 0.2 %

LPLA traded down $0.52 during trading hours on Friday, reaching $314.02. 402,411 shares of the stock traded hands, compared to its average volume of 742,722. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $322.03. The company has a market cap of $23.51 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.54 and a beta of 0.85. 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 firm's fifty day simple moving average is $252.22 and its two-hundred day simple moving average is $251.45.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the company earned $3.74 earnings per share. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial's payout ratio is currently 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.