Boston Partners Has $184.30 Million Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Boston Partners lifted its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1,264.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 847,460 shares of the financial services provider’s stock after buying an additional 785,347 shares during the period. Boston Partners owned about 1.11% of LPL Financial worth $184,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. MONECO Advisors LLC increased its stake in shares of LPL Financial by 2.8% in the second quarter. MONECO Advisors LLC now owns 1,878 shares of the financial services provider’s stock worth $408,000 after purchasing an additional 51 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of LPL Financial by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,628 shares of the financial services provider’s stock worth $2,961,000 after purchasing an additional 67 shares during the period. Sumitomo Life Insurance Co. increased its stake in shares of LPL Financial by 1.0% in the second quarter. Sumitomo Life Insurance Co. now owns 7,361 shares of the financial services provider’s stock worth $1,601,000 after purchasing an additional 72 shares during the period. Advisors Asset Management Inc. increased its stake in shares of LPL Financial by 0.9% in the first quarter. Advisors Asset Management Inc. now owns 8,065 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 75 shares during the period. Finally, Ironwood Investment Counsel LLC grew its position in LPL Financial by 3.5% during the first quarter. Ironwood Investment Counsel LLC now owns 2,210 shares of the financial services provider’s stock worth $447,000 after buying an additional 75 shares in the last quarter. 92.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LPLA shares. StockNews.com started coverage on LPL Financial in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Jefferies Financial Group lifted their target price on LPL Financial from $282.00 to $284.00 in a research report on Tuesday, October 10th. JPMorgan Chase & Co. lifted their target price on LPL Financial from $230.00 to $251.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 10th. JMP Securities reissued a “market outperform” rating and set a $290.00 target price on shares of LPL Financial in a research report on Tuesday, October 10th. Finally, Barclays decreased their target price on LPL Financial from $277.00 to $265.00 and set an “overweight” rating on the stock in a research report on Monday, October 30th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $252.90.

LPL Financial Stock Down 0.2 %

Shares of LPLA opened at $221.02 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.87 and a quick ratio of 1.87. The business’s 50 day simple moving average is $231.57 and its 200-day simple moving average is $220.88. LPL Financial Holdings Inc. has a one year low of $179.00 and a one year high of $257.64. The company has a market capitalization of $16.71 billion, a P/E ratio of 14.98, a PEG ratio of 0.62 and a beta of 0.91.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $3.74 earnings per share for the quarter, topping the consensus estimate of $3.59 by $0.15. LPL Financial had a net margin of 11.99% and a return on equity of 60.49%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the company posted $3.13 EPS. LPL Financial’s revenue was up 16.6% on a year-over-year basis. As a group, sell-side analysts predict that LPL Financial Holdings Inc. will post 15.44 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Thursday, November 9th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, November 8th. LPL Financial’s dividend payout ratio (DPR) is presently 8.14%.

Insider Buying and Selling

In other LPL Financial news, Director Richard Steinmeier sold 10,300 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $242.68, for a total transaction of $2,499,604.00. Following the completion of the sale, the director now owns 16,914 shares in the company, valued at approximately $4,104,689.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other LPL Financial news, Director Richard Steinmeier sold 10,300 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $242.68, for a total transaction of $2,499,604.00. Following the completion of the sale, the director now owns 16,914 shares in the company, valued at approximately $4,104,689.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 353 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $250.03, for a total transaction of $88,260.59. Following the completion of the transaction, the chief executive officer now directly owns 145,884 shares of the company’s stock, valued at approximately $36,475,376.52. The disclosure for this sale can be found here. Insiders sold 15,848 shares of company stock worth $3,770,797 in the last quarter. Insiders own 1.30% of the company’s stock.

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, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.