RiverGlades Family Offices LLC Acquires Shares of 1,100 LPL Financial Holdings Inc. (NASDAQ:LPLA)

RiverGlades Family Offices LLC acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,100 shares of the financial services provider’s stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LPLA. Bridgewater Associates LP increased its stake in LPL Financial by 230.4% in the third quarter. Bridgewater Associates LP now owns 35,848 shares of the financial services provider’s stock valued at $8,339,000 after acquiring an additional 24,998 shares during the last quarter. Cynosure Group LLC raised its holdings in shares of LPL Financial by 28.8% during the 3rd quarter. Cynosure Group LLC now owns 1,724 shares of the financial services provider’s stock worth $401,000 after buying an additional 385 shares in the last quarter. Townsquare Capital LLC boosted its stake in LPL Financial by 14.4% in the third quarter. Townsquare Capital LLC now owns 10,564 shares of the financial services provider’s stock valued at $2,458,000 after buying an additional 1,328 shares in the last quarter. Brooklyn Investment Group acquired a new stake in LPL Financial in the third quarter valued at about $43,000. Finally, FMR LLC grew its position 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 last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $327.35 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a fifty day simple moving average of $265.66 and a two-hundred day simple moving average of $253.40. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $330.72. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85.

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 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 company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $3.74 earnings per share. Analysts anticipate that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LPLA shares. 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. 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. Morgan Stanley boosted their price target on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective for the company in a research report on Tuesday, July 30th. Finally, 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and an average target price of $286.92.

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.