1,100 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Purchased by RiverGlades Family Offices LLC

RiverGlades Family Offices LLC purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 1,100 shares of the financial services provider’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also bought and sold shares of LPLA. Lazard Asset Management LLC grew its holdings in shares of 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 acquiring an additional 886 shares during the period. Kennedy Capital Management LLC grew its stake in LPL Financial by 71.7% in the first quarter. Kennedy Capital Management LLC now owns 10,279 shares of the financial services provider’s stock worth $2,716,000 after purchasing an additional 4,293 shares during the period. Dynasty Wealth Management LLC bought a new position in LPL Financial in the first quarter worth $217,000. B. Riley Wealth Advisors Inc. lifted its position in LPL Financial by 136.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,211 shares of the financial services provider’s stock valued at $584,000 after buying an additional 1,277 shares during the period. Finally, California State Teachers Retirement System lifted its position in LPL Financial by 0.8% during the first quarter. California State Teachers Retirement System now owns 121,566 shares of the financial services provider’s stock valued at $32,118,000 after buying an additional 958 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

LPLA has been the subject of several research reports. The Goldman Sachs Group increased their price target on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. UBS Group boosted their price target on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. TD Cowen raised their price objective on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, JMP Securities reissued a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, LPL Financial has an average rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Trading Up 0.7 %

Shares of NASDAQ:LPLA opened at $327.35 on Wednesday. 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 company has a market cap of $24.51 billion, a P/E ratio of 24.61, a PEG ratio of 1.59 and a beta of 0.85. The stock’s fifty day moving average price is $265.66 and its 200-day moving average price is $253.40.

LPL Financial (NASDAQ:LPLA) last posted its earnings results 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. 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 analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the business earned $3.74 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts expect that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Announces Dividend

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

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.