Integrated Wealth Concepts LLC Increases Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Integrated Wealth Concepts LLC grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,107 shares of the financial services provider’s stock after purchasing an additional 44 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in LPL Financial were worth $956,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LPLA. Daiwa Securities Group Inc. raised its stake in LPL Financial by 50.6% in the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock valued at $3,685,000 after buying an additional 5,320 shares in the last quarter. Raymond James & Associates boosted its position in shares of LPL Financial by 5.4% during the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock worth $110,070,000 after acquiring an additional 20,123 shares in the last quarter. Coronation Fund Managers Ltd. increased its holdings in shares of LPL Financial by 68.2% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider’s stock valued at $50,586,000 after acquiring an additional 88,196 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of LPL Financial by 882.4% during the 2nd 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, FMR LLC lifted its stake in LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after purchasing an additional 650,675 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LPLA shares. JMP Securities reissued a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Jefferies Financial Group decreased their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. The Goldman Sachs Group lifted their target price on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, UBS Group upped their target price on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $290.83.

LPL Financial Price Performance

LPL Financial stock opened at $327.56 on Monday. 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 business has a 50 day simple moving average of $284.54 and a 200-day simple moving average of $257.04. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $332.54. The stock has a market capitalization of $24.53 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86.

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, topping analysts’ consensus estimates of $3.69 by $0.47. The company 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%. LPL Financial’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.74 EPS. Equities analysts predict that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were paid a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. LPL Financial’s dividend payout ratio (DPR) is presently 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.