184 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Acquired by Brooklyn Investment Group

Brooklyn Investment Group acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 184 shares of the financial services provider’s stock, valued at approximately $43,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of LPL Financial by 24.4% in the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after buying an additional 650,675 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in LPL Financial by 58.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 151,979 shares of the financial services provider’s stock worth $35,355,000 after acquiring an additional 56,015 shares during the period. DRW Securities LLC raised its stake in LPL Financial by 3.5% during the 3rd quarter. DRW Securities LLC now owns 20,080 shares of the financial services provider’s stock worth $4,671,000 after acquiring an additional 680 shares during the period. Independent Advisor Alliance raised its stake in LPL Financial by 25.4% during the 3rd quarter. Independent Advisor Alliance now owns 4,702 shares of the financial services provider’s stock worth $1,094,000 after acquiring an additional 952 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in LPL Financial by 50.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock worth $3,685,000 after acquiring an additional 5,320 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Down 0.2 %

LPLA stock opened at $325.15 on Friday. The firm has a fifty day moving average price of $272.36 and a 200 day moving average price of $254.81. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $330.72. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $24.35 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating 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 firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period last year, the firm posted $3.74 earnings per share. LPL Financial’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently disclosed 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. This represents a $1.20 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s payout ratio is 9.02%.

Analyst Ratings Changes

A number of equities research analysts have commented on LPLA shares. Citigroup raised their target price on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group decreased their target price 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. TD Cowen raised their target price on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Morgan Stanley raised their target price on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Barclays raised their target price on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and a consensus target price of $286.92.

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.