LPL Financial Holdings Inc. (NASDAQ:LPLA) Holdings Lifted by DRW Securities LLC

DRW Securities LLC increased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,080 shares of the financial services provider’s stock after buying an additional 680 shares during the quarter. DRW Securities LLC’s holdings in LPL Financial were worth $4,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB acquired a new stake in LPL Financial during the first quarter valued at $3,648,000. Raymond James & Associates boosted its position in LPL Financial by 5.4% during the second quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock valued at $110,070,000 after purchasing an additional 20,123 shares during the last quarter. Coronation Fund Managers Ltd. boosted its position in LPL Financial by 68.2% during the third quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider’s stock valued at $50,586,000 after purchasing an additional 88,196 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in LPL Financial by 882.4% during the second quarter. Assenagon Asset Management S.A. now owns 85,914 shares of the financial services provider’s stock valued at $23,996,000 after purchasing an additional 77,169 shares during the last quarter. Finally, Mediolanum International Funds Ltd boosted its position in LPL Financial by 14.0% during the third quarter. Mediolanum International Funds Ltd now owns 28,548 shares of the financial services provider’s stock valued at $6,580,000 after purchasing an additional 3,496 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of research reports. Barclays lifted their price objective on LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Morgan Stanley boosted their price target on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Jefferies Financial Group reduced their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Finally, The Goldman Sachs Group boosted their price target on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One equities research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Trading Up 1.1 %

Shares of LPLA opened at $326.85 on Monday. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $327.55. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $24.47 billion, a price-to-earnings ratio of 24.58, a P/E/G ratio of 1.60 and a beta of 0.85. The stock’s 50-day moving average price is $263.32 and its 200 day moving average price is $252.97.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% 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 period in the previous year, the company posted $3.74 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts predict that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend yield of 0.37%. LPL Financial’s dividend payout ratio is currently 9.02%.

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.