LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 25.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 16,399 shares of the financial services provider’s stock after acquiring an additional 3,339 shares during the quarter. Sanctuary Advisors LLC’s holdings in LPL Financial were worth $3,815,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of LPLA. Bridges Investment Management Inc. raised its position in LPL Financial by 3.2% in the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 37 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of LPL Financial by 1.8% in the third quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after buying an additional 42 shares during the last quarter. MFA Wealth Advisors LLC boosted its stake in shares of LPL Financial by 3.9% during the third quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after buying an additional 43 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of LPL Financial by 1.1% during the third quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock worth $956,000 after buying an additional 44 shares during the period. Finally, Metis Global Partners LLC grew its holdings in shares of LPL Financial by 5.1% during the third quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after buying an additional 46 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Trading Down 0.1 %

Shares of LPL Financial stock opened at $329.77 on Tuesday. The company has a 50-day moving average of $295.61 and a two-hundred day moving average of $259.01. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $334.38. 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 market cap of $24.69 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.61 and a beta of 0.86.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) 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 analysts’ expectations of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. LPL Financial’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.74 earnings per share. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 16.1 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were given a $0.30 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. LPL Financial’s dividend payout ratio is presently 9.02%.

Insider Activity at LPL Financial

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LPLA has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Jefferies Financial Group decreased their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. The Goldman Sachs Group boosted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays raised their target price on shares of LPL Financial from $311.00 to $378.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Citigroup boosted their price target on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and a consensus price target of $305.17.

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.