Eagle Asset Management Inc. Has $137.54 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Eagle Asset Management Inc. decreased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 9.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 591,233 shares of the financial services provider’s stock after selling 61,990 shares during the period. Eagle Asset Management Inc. owned about 0.79% of LPL Financial worth $137,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LPLA. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial in the 2nd quarter valued at about $25,000. Key Financial Inc acquired a new stake in shares of LPL Financial during the 2nd quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new position in shares of LPL Financial during the 3rd quarter valued at $31,000. Paladin Wealth LLC acquired a new position in shares of LPL Financial in the third quarter worth $34,000. Finally, Crewe Advisors LLC raised its holdings in shares of 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 acquiring an additional 101 shares in the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. The Goldman Sachs Group upped their target price on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target on the stock in a report on Tuesday, July 30th. UBS Group lifted their price target on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. Finally, Citigroup upped their price target on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Stock Performance

LPL Financial stock opened at $323.24 on Friday. The stock has a 50-day simple moving average of $258.57 and a 200 day simple moving average of $252.31. The stock has a market capitalization of $24.20 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 1.54 and a beta of 0.85. 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 Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $326.76.

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

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s dividend payout ratio is 9.02%.

About LPL Financial

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.