LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 38.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,985 shares of the financial services provider’s stock after acquiring an additional 549 shares during the period. Valley Wealth Managers Inc.’s holdings in LPL Financial were worth $462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in LPL Financial in the first quarter worth $198,000. Koshinski Asset Management Inc. acquired a new stake in shares of LPL Financial in the 1st quarter worth about $259,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in LPL Financial by 14.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 39,331 shares of the financial services provider’s stock valued at $10,391,000 after purchasing an additional 5,101 shares during the last quarter. Blair William & Co. IL boosted its stake in LPL Financial by 7.8% during the 1st quarter. Blair William & Co. IL now owns 25,287 shares of the financial services provider’s stock valued at $6,681,000 after purchasing an additional 1,832 shares during the period. Finally, Intech Investment Management LLC grew its position in LPL Financial by 38.8% in the 1st quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider’s stock worth $11,057,000 after purchasing an additional 11,703 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Price Performance

Shares of NASDAQ:LPLA opened at $314.02 on Friday. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $322.03. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market cap of $23.51 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. The company’s fifty day moving average is $252.22 and its two-hundred day moving average is $251.45.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS 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 for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the firm posted $3.74 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Equities analysts expect that LPL Financial Holdings Inc. will post 16.08 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. Shareholders 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 dividend on an annualized basis and a yield of 0.38%. LPL Financial’s dividend payout ratio (DPR) is currently 9.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TD Cowen lifted their price target on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Wells Fargo & Company upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. Morgan Stanley increased their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods dropped their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, JMP Securities restated a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a research 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.