Azora Capital LP Has $149.71 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Azora Capital LP boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 52.2% in the third quarter, Holdings Channel.com reports. The fund owned 643,544 shares of the financial services provider’s stock after acquiring an additional 220,622 shares during the quarter. LPL Financial comprises 8.1% of Azora Capital LP’s portfolio, making the stock its biggest holding. Azora Capital LP’s holdings in LPL Financial were worth $149,708,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bridges Investment Management Inc. raised its stake in shares of LPL Financial by 3.2% during the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 37 shares in the last quarter. Avior Wealth Management LLC increased its holdings in LPL Financial by 1.8% during the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 42 shares during the period. MFA Wealth Advisors LLC raised its position in LPL Financial by 3.9% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 43 shares in the last quarter. Metis Global Partners LLC lifted its holdings in shares of LPL Financial by 5.1% in the 3rd quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after buying an additional 46 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of LPL Financial by 2.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,218 shares of the financial services provider’s stock worth $516,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Down 0.2 %

Shares of NASDAQ:LPLA opened at $325.15 on Monday. The business’s 50-day moving average is $274.56 and its 200 day moving average is $255.03. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $330.72. The firm has a market capitalization of $24.35 billion, a P/E ratio of 24.45, a P/E/G ratio of 1.59 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.74 earnings per share. On average, research analysts predict that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on LPLA. TD Cowen upped their price objective 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. UBS Group increased their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. JMP Securities reissued a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th. Citigroup upped their target price on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group cut their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, LPL Financial currently has a consensus rating of “Moderate Buy” and an average target price of $290.83.

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.