Zurcher Kantonalbank Zurich Cantonalbank Has $6.33 Million Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,214 shares of the financial services provider’s stock after purchasing an additional 1,104 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in LPL Financial were worth $6,331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LPLA. Ashton Thomas Private Wealth LLC bought a new stake in LPL Financial in the 2nd quarter valued at about $25,000. Key Financial Inc bought a new stake in shares of LPL Financial during the second quarter valued at approximately $28,000. Ashton Thomas Securities LLC acquired a new position in shares of LPL Financial during the third quarter worth approximately $31,000. Paladin Wealth LLC bought a new position in shares of LPL Financial in the 3rd quarter worth $34,000. Finally, Crewe Advisors LLC grew its position in LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Trading Down 0.2 %

Shares of LPL Financial stock opened at $325.15 on Monday. The firm has a market cap of $24.35 billion, a PE ratio of 24.45, a P/E/G ratio of 1.59 and a beta of 0.85. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $330.72. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a fifty day moving average price of $274.56 and a 200-day moving average price of $255.03.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The business had revenue of $3.11 billion during 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%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.74 earnings per share. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently disclosed 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 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%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays upped their price objective on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Jefferies Financial Group lowered their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. UBS Group lifted their price target on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Citigroup increased their price objective on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and a consensus price target of $290.83.

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.