Wellington Management Group LLP Increases Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Wellington Management Group LLP grew its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 32.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 227,157 shares of the financial services provider's stock after purchasing an additional 56,070 shares during the quarter. Wellington Management Group LLP owned about 0.30% of LPL Financial worth $52,844,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Daiwa Securities Group Inc. lifted its position in shares of LPL Financial by 50.6% in the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider's stock worth $3,685,000 after purchasing an additional 5,320 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in LPL Financial during the third quarter worth $2,633,000. Raymond James & Associates raised its stake in LPL Financial by 5.4% during the second 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 in the last quarter. Coronation Fund Managers Ltd. grew its stake in shares of LPL Financial by 68.2% during the third quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider's stock worth $50,586,000 after buying an additional 88,196 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in LPL Financial by 882.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 85,914 shares of the financial services provider's stock worth $23,996,000 after purchasing an additional 77,169 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Trading Up 0.3 %

NASDAQ:LPLA traded up $1.05 during mid-day trading on Thursday, hitting $331.58. 154,930 shares of the stock traded hands, compared to its average volume of 720,605. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $334.38. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $24.83 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 1.60 and a beta of 0.86. The firm's 50 day moving average is $290.17 and its two-hundred day moving average is $258.15.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial's revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.74 EPS. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on LPLA. Wells Fargo & Company lifted their price objective on LPL Financial from $310.00 to $390.00 and gave the stock an "overweight" rating in a research report on Thursday. Morgan Stanley lifted their price target on LPL Financial from $303.00 to $309.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. TD Cowen lifted their price target on LPL Financial from $271.00 to $277.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their target price on shares of LPL Financial from $271.00 to $305.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, JMP Securities reissued a "market outperform" rating and issued a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $305.17.

Insider Transactions at LPL Financial

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

LPL Financial 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.