Moran Wealth Management LLC Buys 1,092 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Moran Wealth Management LLC boosted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 63.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,807 shares of the financial services provider’s stock after buying an additional 1,092 shares during the quarter. Moran Wealth Management LLC’s holdings in LPL Financial were worth $653,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Boston Partners raised its holdings in shares of LPL Financial by 71.9% in the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after purchasing an additional 738,509 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in LPL Financial by 9.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after purchasing an additional 233,242 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in LPL Financial by 31.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider’s stock valued at $216,227,000 after buying an additional 183,755 shares during the last quarter. American Century Companies Inc. lifted its position in shares of LPL Financial by 52.6% during the 2nd quarter. American Century Companies Inc. now owns 477,211 shares of the financial services provider’s stock worth $133,285,000 after buying an additional 164,586 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of LPL Financial in the 2nd quarter worth approximately $40,004,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Trading Up 1.1 %

Shares of LPLA opened at $326.85 on Friday. The business’s 50-day moving average price is $260.89 and its 200-day moving average price is $252.81. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $327.55. The stock has a market cap of $24.47 billion, a PE ratio of 24.58, a P/E/G ratio of 1.54 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating the consensus estimate of $3.69 by $0.47. The firm 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 business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $3.74 EPS. On average, equities analysts forecast that LPL Financial Holdings Inc. will post 16.08 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. LPL Financial’s payout ratio is currently 9.02%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LPLA. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $235.00 to $285.00 in a report on Wednesday, October 9th. TD Cowen raised their price objective on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Citigroup boosted their target price on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, UBS Group increased their target price on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $286.92.

About LPL Financial

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.