Meeder Asset Management Inc. Increases Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Meeder Asset Management Inc. boosted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2,076.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 566 shares of the financial services provider’s stock after buying an additional 540 shares during the period. Meeder Asset Management Inc.’s holdings in LPL Financial were worth $132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of LPLA. Ashton Thomas Private Wealth LLC purchased a new stake in LPL Financial during the second quarter worth $25,000. Key Financial Inc purchased a new stake in LPL Financial during the second quarter worth $28,000. Ashton Thomas Securities LLC purchased a new stake in LPL Financial during the third quarter worth $31,000. Paladin Wealth LLC purchased a new stake in LPL Financial during the third quarter worth $34,000. Finally, Crewe Advisors LLC lifted its holdings in LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Bank of America raised LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target on the stock in a research report on Tuesday, July 30th. Citigroup upped their price target on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. UBS Group upped their price target on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Jefferies Financial Group reduced their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, The Goldman Sachs Group upped their target price on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $286.92.

LPL Financial Trading Up 0.8 %

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

LPL Financial (NASDAQ:LPLA) last released its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the company posted $3.74 EPS. The business’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 16.08 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm 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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Thursday, November 14th. LPL Financial’s dividend payout ratio (DPR) is 9.02%.

LPL Financial 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.