TT International Asset Management LTD Makes New Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

TT International Asset Management LTD bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,266 shares of the financial services provider's stock, valued at approximately $2,620,000.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its position in shares of LPL Financial by 24.4% during the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider's stock valued at $772,930,000 after acquiring an additional 650,675 shares during the period. Southpoint Capital Advisors LP lifted its position in shares of LPL Financial by 50.0% during the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider's stock worth $174,472,000 after buying an additional 250,000 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of LPL Financial by 9.9% during the 2nd 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 buying an additional 233,242 shares during the last quarter. Maverick Capital Ltd. lifted its position in shares of LPL Financial by 82.0% during the 3rd quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider's stock worth $115,635,000 after buying an additional 223,931 shares during the last quarter. Finally, Azora Capital LP lifted its position in shares of LPL Financial by 52.2% during the 3rd quarter. Azora Capital LP now owns 643,544 shares of the financial services provider's stock worth $149,708,000 after buying an additional 220,622 shares during the last quarter. Institutional investors own 95.66% of the company's stock.

Insiders Place Their Bets

In related news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company's stock.

LPL Financial Stock Performance

Shares of NASDAQ LPLA traded up $6.62 during trading on Wednesday, reaching $330.67. 141,734 shares of the stock traded hands, compared to its average volume of 721,931. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $332.91. 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 50-day moving average of $288.18 and a 200-day moving average of $257.64. The stock has a market capitalization of $24.76 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating 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 company 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 posted $3.74 EPS. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts forecast that LPL Financial Holdings Inc. will post 16.1 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.36%. LPL Financial's dividend payout ratio is currently 9.02%.

Analysts Set New Price Targets

LPLA has been the subject of several recent analyst reports. Wells Fargo & Company upgraded LPL Financial from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. StockNews.com upgraded LPL Financial from a "sell" rating to a "hold" rating in a research report on Saturday, November 9th. UBS Group increased their target price on LPL Financial from $215.00 to $250.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th. JMP Securities reiterated a "market outperform" rating and issued a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. Finally, Morgan Stanley increased their target price on LPL Financial from $303.00 to $309.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. One equities 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $296.42.

About LPL Financial

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.