Mutual of America Capital Management LLC Invests $996,000 in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mutual of America Capital Management LLC bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,567 shares of the financial services provider’s stock, valued at approximately $996,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. DGS Capital Management LLC lifted its stake in LPL Financial by 2.8% during the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 44 shares during the period. Tortoise Investment Management LLC lifted its position in LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares during the period. Gulf International Bank UK Ltd boosted its holdings in LPL Financial by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock valued at $1,693,000 after purchasing an additional 60 shares during the last quarter. LVW Advisors LLC grew its position in LPL Financial by 1.9% during the 1st quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock worth $857,000 after purchasing an additional 61 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of LPL Financial by 3.1% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,169 shares of the financial services provider’s stock valued at $573,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on LPLA shares. Jefferies Financial Group upped their target price on LPL Financial from $322.00 to $334.00 and gave the stock a “buy” rating in a research note on Monday, July 8th. Keefe, Bruyette & Woods dropped 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. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Barclays lowered their price target on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Finally, JMP Securities lifted their price objective on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $274.92.

LPL Financial Trading Down 0.5 %

LPLA stock opened at $229.27 on Friday. The business’s 50-day moving average is $215.33 and its 200 day moving average is $250.76. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $289.88. The stock has a market cap of $17.13 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.27 and a beta of 0.88. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, topping the consensus estimate of $3.66 by $0.22. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.94 earnings per share. On average, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 15.88 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.30 per share. The ex-dividend date was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a yield of 0.52%. LPL Financial’s payout ratio is presently 9.06%.

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.