LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 50.6% in the third quarter, HoldingsChannel reports. The fund owned 15,841 shares of the financial services provider’s stock after purchasing an additional 5,320 shares during the quarter. Daiwa Securities Group Inc.’s holdings in LPL Financial were worth $3,685,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Swedbank AB acquired a new stake in LPL Financial in the first quarter worth approximately $3,648,000. Raymond James & Associates lifted its holdings in shares of LPL Financial by 5.4% in the second quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock valued at $110,070,000 after buying an additional 20,123 shares during the period. Coronation Fund Managers Ltd. boosted its stake in LPL Financial by 68.2% during the third quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider’s stock valued at $50,586,000 after buying an additional 88,196 shares in the last quarter. Assenagon Asset Management S.A. raised its position in LPL Financial by 882.4% in the second quarter. Assenagon Asset Management S.A. now owns 85,914 shares of the financial services provider’s stock worth $23,996,000 after acquiring an additional 77,169 shares in the last quarter. Finally, Mediolanum International Funds Ltd lifted its holdings in LPL Financial by 14.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 28,548 shares of the financial services provider’s stock valued at $6,580,000 after acquiring an additional 3,496 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LPLA shares. UBS Group lifted their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. TD Cowen upped 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. Jefferies Financial Group reduced their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Wells Fargo & Company raised LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. Finally, StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $286.92.

LPL Financial Stock Up 0.7 %

LPL Financial stock opened at $327.35 on Wednesday. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $330.72. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $24.51 billion, a PE ratio of 24.61, a P/E/G ratio of 1.60 and a beta of 0.85. The firm’s 50 day moving average price is $265.66 and its two-hundred day moving average price is $253.40.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The business 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%. LPL Financial’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.74 earnings per share. On average, research analysts predict that LPL Financial Holdings Inc. will post 16.1 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared 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 dividend yield of 0.37%. LPL Financial’s payout ratio is 9.02%.

LPL Financial 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.