Cynosure Group LLC Buys 385 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Cynosure Group LLC lifted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 28.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,724 shares of the financial services provider’s stock after purchasing an additional 385 shares during the quarter. Cynosure Group LLC’s holdings in LPL Financial were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Townsquare Capital LLC boosted its stake in LPL Financial by 14.4% during the third quarter. Townsquare Capital LLC now owns 10,564 shares of the financial services provider’s stock worth $2,458,000 after buying an additional 1,328 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of LPL Financial during the 3rd quarter valued at about $43,000. FMR LLC increased its stake in LPL Financial by 24.4% in the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after acquiring an additional 650,675 shares during the period. Brown Brothers Harriman & Co. raised its position in LPL Financial by 58.4% in the third quarter. Brown Brothers Harriman & Co. now owns 151,979 shares of the financial services provider’s stock worth $35,355,000 after purchasing an additional 56,015 shares in the last quarter. Finally, DRW Securities LLC lifted its stake in LPL Financial by 3.5% during the third quarter. DRW Securities LLC now owns 20,080 shares of the financial services provider’s stock worth $4,671,000 after purchasing an additional 680 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LPLA has been the topic of several analyst reports. The Goldman Sachs Group upped their price objective on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Cowen increased their price objective on 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 boosted their target price 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. Jefferies Financial Group reduced their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Citigroup lifted their price target on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Stock Down 0.5 %

Shares of NASDAQ:LPLA opened at $325.72 on Thursday. The company has a 50 day moving average price of $267.99 and a two-hundred day moving average price of $253.81. The company has a market capitalization of $24.39 billion, a PE ratio of 24.49, a PEG ratio of 1.59 and a beta of 0.85. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week 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.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.74 earnings per share. Analysts forecast that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. 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%.

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.