Townsquare Capital LLC Acquires 1,328 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Townsquare Capital LLC grew its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 14.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,564 shares of the financial services provider’s stock after acquiring an additional 1,328 shares during the period. Townsquare Capital LLC’s holdings in LPL Financial were worth $2,458,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LPLA. FMR LLC boosted its holdings in 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 purchasing an additional 650,675 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of LPL Financial by 9.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after buying an additional 233,242 shares during the last quarter. Samlyn Capital LLC boosted its stake in shares of LPL Financial by 8.0% during the 2nd quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock worth $333,684,000 after acquiring an additional 88,635 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of LPL Financial by 11.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider’s stock valued at $247,077,000 after acquiring an additional 90,020 shares in the last quarter. Finally, Darlington Partners Capital Management LP lifted its holdings in LPL Financial by 9.5% in the 2nd quarter. Darlington Partners Capital Management LP now owns 783,290 shares of the financial services provider’s stock worth $218,773,000 after purchasing an additional 68,276 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $325.15 on Friday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $330.72. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The business has a fifty day simple moving average of $274.56 and a 200 day simple moving average of $255.21. The firm has a market capitalization of $24.35 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.59 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last issued its earnings results 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. 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 in the previous year, the business earned $3.74 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. Sell-side analysts expect that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have commented on LPLA shares. UBS Group increased their price target on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $235.00 to $285.00 in a research note on Wednesday, October 9th. Jefferies Financial Group cut their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. TD Cowen lifted their price objective on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Citigroup boosted their price objective on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research 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 assigned a buy rating to the stock. Based on data from MarketBeat, LPL Financial 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.