Greenleaf Trust Buys New Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Greenleaf Trust purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,323 shares of the financial services provider’s stock, valued at approximately $2,169,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial in the 2nd quarter worth $25,000. Key Financial Inc purchased a new position in LPL Financial in the 2nd quarter worth about $28,000. Riverview Trust Co acquired a new stake in LPL Financial during the 1st quarter worth about $30,000. Paladin Wealth LLC purchased a new stake in LPL Financial during the third quarter valued at about $34,000. Finally, Crewe Advisors LLC boosted its holdings in shares of LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. Citigroup reduced their target price on LPL Financial from $325.00 to $285.00 and set a “buy” rating for the company in a report on Friday, September 27th. UBS Group raised their target price on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. TD Cowen upped their price target on LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price objective on LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $277.77.

LPL Financial Stock Up 0.7 %

LPLA opened at $258.00 on Thursday. The company has a market capitalization of $19.27 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88. The business has a 50-day moving average of $228.72 and a 200-day moving average of $248.15. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $289.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.22. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.94 earnings per share. Equities research analysts forecast that LPL Financial Holdings Inc. will post 15.79 EPS for the current fiscal year.

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.