LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 106.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 8,020 shares of the financial services provider’s stock after buying an additional 4,134 shares during the period. Harbor Capital Advisors Inc.’s holdings in LPL Financial were worth $1,866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LPLA. Sequoia Financial Advisors LLC acquired a new stake in shares of LPL Financial during the 1st quarter worth about $208,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of LPL Financial by 14.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,195 shares of the financial services provider’s stock worth $2,954,000 after acquiring an additional 1,519 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of LPL Financial by 9.3% during the 1st quarter. BNP Paribas Financial Markets now owns 41,619 shares of the financial services provider’s stock worth $10,996,000 after acquiring an additional 3,543 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of LPL Financial by 3.1% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,169 shares of the financial services provider’s stock worth $573,000 after acquiring an additional 65 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of LPL Financial by 4.3% during the 1st quarter. Nordea Investment Management AB now owns 5,869 shares of the financial services provider’s stock worth $1,549,000 after acquiring an additional 240 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on LPLA shares. TD Cowen lifted their price target on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Citigroup lifted their price target on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods cut their price target on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Trading Down 2.4 %

Shares of LPLA stock opened at $273.98 on Tuesday. The business’s 50 day moving average is $235.38 and its two-hundred day moving average is $248.45. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $291.67. The company has a market capitalization of $20.48 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data 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. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the company posted $3.74 earnings per share. LPL Financial’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that LPL Financial Holdings Inc. will post 15.77 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Thursday, November 14th. LPL Financial’s dividend payout ratio is presently 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.