LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Acquired by Quest Partners LLC

Quest Partners LLC boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 45.6% in the third quarter, Holdings Channel.com reports. The firm owned 4,387 shares of the financial services provider’s stock after acquiring an additional 1,373 shares during the period. Quest Partners LLC’s holdings in LPL Financial were worth $1,021,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LPLA. Acadian Asset Management LLC grew its holdings in LPL Financial by 533.8% during the 1st quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock valued at $1,359,000 after purchasing an additional 4,340 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in LPL Financial by 83.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,100 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 500 shares during the last quarter. Axxcess Wealth Management LLC boosted its stake in LPL Financial by 52.3% during the 1st quarter. Axxcess Wealth Management LLC now owns 2,217 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 761 shares during the last quarter. Toronto Dominion Bank boosted its stake in LPL Financial by 584.7% during the 1st quarter. Toronto Dominion Bank now owns 67,213 shares of the financial services provider’s stock valued at $17,758,000 after acquiring an additional 57,396 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in LPL Financial by 12.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 783,777 shares of the financial services provider’s stock valued at $207,074,000 after acquiring an additional 88,241 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on LPLA shares. Keefe, Bruyette & Woods reduced their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Jefferies Financial Group reduced their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. UBS Group increased their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Morgan Stanley raised their price target on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $286.92.

LPL Financial Trading Up 0.8 %

Shares of NASDAQ:LPLA opened at $317.05 on Thursday. The company has a market cap of $23.74 billion, a PE ratio of 23.84, a P/E/G ratio of 1.54 and a beta of 0.85. The company’s 50-day moving average price is $258.57 and its 200 day moving average price is $252.31. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $322.03. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $3.74 EPS. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.38%. LPL Financial’s payout ratio is 9.02%.

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, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.