WCM Investment Management LLC trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,649,668 shares of the financial services provider's stock after selling 14,050 shares during the quarter. WCM Investment Management LLC owned about 2.21% of LPL Financial worth $380,842,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in LPL Financial during the 2nd quarter valued at about $25,000. Key Financial Inc bought a new position in LPL Financial during the 2nd quarter valued at about $28,000. Crewe Advisors LLC lifted its stake in LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 101 shares during the period. Tortoise Investment Management LLC lifted its stake 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 acquiring an additional 56 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in LPL Financial during the 3rd quarter valued at about $31,000. 95.66% of the stock is owned by hedge funds and other institutional investors.
LPL Financial Price Performance
LPLA traded up $5.68 during trading on Monday, reaching $317.93. 667,760 shares of the company traded hands, compared to its average volume of 746,722. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $321.92. The firm has a fifty day simple moving average of $244.34 and a 200 day simple moving average of $249.92. The company has a market cap of $23.81 billion, a P/E ratio of 23.90, a PEG ratio of 1.53 and a beta of 0.85.
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, beating analysts' consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the firm posted $3.74 EPS. The company's revenue was up 6.0% on a year-over-year basis. On average, equities analysts forecast that LPL Financial Holdings Inc. will post 16.08 EPS for the current year.
LPL Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis 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 Analysts Forecast Growth
Several equities analysts have issued reports on LPLA shares. JMP Securities restated a "market outperform" rating and set a $310.00 target price on shares of LPL Financial in a research note on Wednesday, October 9th. Wells Fargo & Company upgraded shares of LPL Financial from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $235.00 to $285.00 in a research note on Wednesday, October 9th. TD Cowen increased their price objective on shares of LPL Financial from $271.00 to $277.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods lowered their price objective on shares of LPL Financial from $326.00 to $315.00 and set an "outperform" rating on the stock in a research note on Friday, July 26th. Finally, Jefferies Financial Group lowered their price objective on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $286.92.
View Our Latest Stock Report on LPL Financial
About LPL Financial
(
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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