Wealth Alliance cut its position in LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 9.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,420 shares of the financial services provider’s stock after selling 144 shares during the quarter. Wealth Alliance’s holdings in LPL Financial were worth $337,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in LPLA. First Manhattan Co. bought a new position in shares of LPL Financial in the fourth quarter valued at $27,000. Smithfield Trust Co grew its stake in shares of LPL Financial by 164.4% in 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 in the last quarter. Quarry LP grew its stake in shares of LPL Financial by 220.4% in 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 in the last quarter. Fred Alger Management LLC bought a new position in shares of LPL Financial in the third quarter valued at $44,000. Finally, First Capital Advisors Group LLC. bought a new position in shares of LPL Financial in the second quarter valued at $49,000. 92.84% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $290.00 target price on shares of LPL Financial in a research note on Friday, February 2nd. UBS Group lifted their price objective on shares of LPL Financial from $245.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Barclays reduced their price objective on shares of LPL Financial from $277.00 to $265.00 and set an “overweight” rating for the company in a research report on Monday, October 30th. Morgan Stanley reduced their price objective on shares of LPL Financial from $260.00 to $252.00 and set an “equal weight” rating for the company in a research report on Monday, October 30th. Finally, Redburn Atlantic initiated coverage on shares of LPL Financial in a research report on Friday, December 1st. They set a “neutral” rating and a $240.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, LPL Financial has a consensus rating of “Hold” and a consensus price target of $251.45.
LPL Financial Trading Up 1.8 %
Shares of LPL Financial stock opened at $248.13 on Monday. The firm has a 50-day moving average of $231.87 and a 200-day moving average of $230.88. The stock has a market cap of $18.76 billion, a PE ratio of 18.18, a PEG ratio of 0.72 and a beta of 0.83. LPL Financial Holdings Inc. has a 52-week low of $179.00 and a 52-week high of $259.27. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.87 and a current ratio of 1.87.
LPL Financial (NASDAQ:LPLA – Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.18. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. LPL Financial had a return on equity of 57.30% and a net margin of 10.61%. LPL Financial’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.21 earnings per share. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 15.96 EPS for the current year.
LPL Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 11th. LPL Financial’s dividend payout ratio (DPR) is presently 8.79%.
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.
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