OneDigital Investment Advisors LLC boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 27.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,081 shares of the financial services provider’s stock after acquiring an additional 1,107 shares during the period. OneDigital Investment Advisors LLC’s holdings in LPL Financial were worth $1,182,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Boston Partners increased its holdings in LPL Financial by 71.9% during the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after purchasing an additional 738,509 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in LPL Financial by 9.9% during the second 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 acquiring an additional 233,242 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of LPL Financial by 31.1% in the second quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider’s stock worth $216,227,000 after acquiring an additional 183,755 shares in the last quarter. American Century Companies Inc. raised its position in shares of LPL Financial by 52.6% during the second quarter. American Century Companies Inc. now owns 477,211 shares of the financial services provider’s stock worth $133,285,000 after purchasing an additional 164,586 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in shares of LPL Financial by 19.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock valued at $245,011,000 after purchasing an additional 153,072 shares during the period. 95.66% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on LPLA. TD Cowen increased their target price on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Jefferies Financial Group decreased their price objective on shares of 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, Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective for the company in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $286.92.
Read Our Latest Stock Report on LPL Financial
LPL Financial Stock Performance
Shares of LPLA opened at $314.77 on Tuesday. The stock’s 50-day simple moving average is $252.22 and its 200 day simple moving average is $251.23. 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 52-week low of $187.19 and a 52-week high of $322.03. The stock has a market capitalization of $23.57 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85.
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 the consensus estimate of $3.69 by $0.47. The company 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%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.74 earnings per share. Research analysts forecast that LPL Financial Holdings Inc. will post 16.08 EPS for the current fiscal 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 paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. LPL Financial’s payout ratio is presently 9.02%.
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.
See Also
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