9,557 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Acquired by J.P. Morgan Private Wealth Advisors LLC

J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,557 shares of the financial services provider’s stock, valued at approximately $2,271,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smithfield Trust Co grew its stake in shares of LPL Financial by 164.4% during the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after buying an additional 74 shares during the last quarter. First Manhattan Co. bought a new position in shares of LPL Financial during the fourth quarter valued at about $27,000. Quarry LP grew its stake in shares of LPL Financial by 220.4% during the second quarter. Quarry LP now owns 173 shares of the financial services provider’s stock valued at $38,000 after buying an additional 119 shares during the last quarter. Fred Alger Management LLC bought a new position in shares of LPL Financial during the third quarter valued at about $44,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of LPL Financial during the second quarter valued at about $7,495,000. 92.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LPLA. Redburn Atlantic started coverage on LPL Financial in a research note on Friday, December 1st. They set a “neutral” rating and a $240.00 price objective on the stock. Barclays cut their target price on LPL Financial from $277.00 to $265.00 and set an “overweight” rating on the stock in a research note on Monday, October 30th. Morgan Stanley cut their target price on LPL Financial from $260.00 to $252.00 and set an “equal weight” rating on the stock in a research note on Monday, October 30th. TD Cowen started coverage on LPL Financial in a research note on Thursday, January 4th. They issued a “market perform” rating and a $224.00 target price on the stock. Finally, UBS Group raised their target price on LPL Financial from $245.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $251.45.

Read Our Latest Report on LPL Financial

LPL Financial Stock Performance

Shares of LPLA opened at $248.13 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. LPL Financial Holdings Inc. has a one year low of $179.00 and a one year high of $259.27. The company has a 50-day simple moving average of $231.87 and a two-hundred day simple moving average of $230.94. The firm has a market capitalization of $18.76 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 0.71 and a beta of 0.83.

LPL Financial (NASDAQ:LPLAGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.30%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the business posted $4.21 earnings per share. LPL Financial’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, analysts anticipate that LPL Financial Holdings Inc. will post 15.96 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.48%. LPL Financial’s payout ratio is 8.79%.

LPL Financial Profile

(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, 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.

Further Reading

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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