GSA Capital Partners LLP Purchases 1,605 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

GSA Capital Partners LLP boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 116.9% during the third quarter, HoldingsChannel reports. The fund owned 2,978 shares of the financial services provider’s stock after buying an additional 1,605 shares during the quarter. GSA Capital Partners LLP’s holdings in LPL Financial were worth $693,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Bridges Investment Management Inc. raised its position in shares of LPL Financial by 3.2% in the third 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 period. MFA Wealth Advisors LLC grew its stake in LPL Financial by 3.9% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $267,000 after buying an additional 43 shares in the last quarter. Stephens Inc. AR raised its holdings in LPL Financial by 5.2% during the 3rd quarter. Stephens Inc. AR now owns 1,054 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 52 shares during the period. Tortoise Investment Management LLC lifted its position in shares of LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 56 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in shares of LPL Financial by 1.0% in the second quarter. King Luther Capital Management Corp now owns 5,860 shares of the financial services provider’s stock worth $1,637,000 after acquiring an additional 56 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Price Performance

LPLA stock opened at $314.02 on Monday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $23.51 billion, a P/E ratio of 23.61, a P/E/G ratio of 1.54 and a beta of 0.85. The firm’s fifty day moving average is $252.22 and its 200 day moving average is $251.23. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $322.03.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping 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 the consensus estimate of $3.04 billion. During the same quarter in the previous year, the business earned $3.74 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts predict that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s payout ratio is 9.02%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LPLA. Barclays increased their price objective on LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. UBS Group upped their target price on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods cut their price target on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Jefferies Financial Group decreased their price target on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.