DRW Securities LLC Buys 680 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

DRW Securities LLC grew its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 20,080 shares of the financial services provider’s stock after acquiring an additional 680 shares during the quarter. DRW Securities LLC’s holdings in LPL Financial were worth $4,671,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. UniSuper Management Pty Ltd grew its position in LPL Financial by 83.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,100 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 500 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in LPL Financial by 1,640.7% during the 1st quarter. Lazard Asset Management LLC now owns 940 shares of the financial services provider’s stock worth $247,000 after buying an additional 886 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new position in LPL Financial during the 1st quarter worth $461,000. Kennedy Capital Management LLC lifted its stake in shares of LPL Financial by 71.7% in the 1st quarter. Kennedy Capital Management LLC now owns 10,279 shares of the financial services provider’s stock valued at $2,716,000 after purchasing an additional 4,293 shares during the period. Finally, Dynasty Wealth Management LLC acquired a new position in shares of LPL Financial in the 1st quarter valued at $217,000. 95.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LPLA has been the topic of a number of analyst reports. TD Cowen increased their price target on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Citigroup increased their price target on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Morgan Stanley increased their price target on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $310.00 price target on shares of LPL Financial in a research note on Wednesday, October 9th. Finally, Barclays increased their price target on LPL Financial from $273.00 to $311.00 and gave the company 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $286.92.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $326.85 on Monday. The stock has a market capitalization of $24.47 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.60 and a beta of 0.85. The business has a 50-day moving average of $263.32 and a 200-day moving average of $252.97. 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 fifty-two week low of $187.19 and a fifty-two week high of $327.55.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data 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. 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%. LPL Financial’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.74 EPS. As a group, sell-side analysts predict that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

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