LPL Financial Holdings Inc. $LPLA Shares Newly Purchased by M Holdings Securities Inc.

M Holdings Securities Inc. purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the third quarter, Holdings Channel reports. The firm purchased 3,062 shares of the financial services provider’s stock, valued at approximately $914,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in LPL Financial by 79.0% in the second quarter. Versant Capital Management Inc now owns 188 shares of the financial services provider’s stock valued at $53,000 after buying an additional 83 shares during the last quarter. Abound Financial LLC grew its position in shares of LPL Financial by 9,550.0% during the first quarter. Abound Financial LLC now owns 193 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 191 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of LPL Financial during the second quarter worth approximately $59,000. Y.D. More Investments Ltd raised its position in LPL Financial by 250.0% in the 1st quarter. Y.D. More Investments Ltd now owns 210 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 150 shares during the last quarter. Finally, CX Institutional raised its position in LPL Financial by 268.9% in the 3rd quarter. CX Institutional now owns 225 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 164 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LPLA. JPMorgan Chase & Co. decreased their price target on shares of LPL Financial from $445.00 to $413.00 and set an “overweight” rating for the company in a research note on Wednesday, October 28th. Citizens Jmp reaffirmed a “market outperform” rating and set a $500.00 price objective on shares of LPL Financial in a research note on Monday, October 5th. Wolfe Research restated an “outperform” rating and issued a $454.00 target price on shares of LPL Financial in a research note on Wednesday, August 12th. Capital One Financial set a $370.00 price target on LPL Financial in a research note on Tuesday, October 6th. Finally, TD Cowen reduced their price objective on shares of LPL Financial from $380.00 to $356.00 and set a “hold” rating for the company in a research note on Wednesday, October 28th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $400.60.

LPL Financial Trading Up 3.4%

LPLA stock opened at $305.49 on Tuesday. The company has a market cap of $23.79 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.60 and a beta of 0.55. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 1.34. The business has a fifty day simple moving average of $322.86 and a 200-day simple moving average of $320.92. LPL Financial Holdings Inc. has a 52 week low of $260.15 and a 52 week high of $400.16.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Tuesday, October 27th. The financial services provider reported $5.97 earnings per share for the quarter, topping the consensus estimate of $5.69 by $0.28. LPL Financial had a return on equity of 32.05% and a net margin of 6.83%. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the company posted $5.20 EPS. The business’s quarterly revenue was up 17.4% on a year-over-year basis. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 23.45 EPS for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, November 12th. LPL Financial’s payout ratio is 6.88%.

Insiders Place Their Bets

In other news, Director Greg Gates sold 4,119 shares of LPL Financial stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $355.38, for a total value of $1,463,810.22. Following the transaction, the director directly owned 23,602 shares of the company’s stock, valued at $8,387,678.76. The trade was a 14.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Aneri Jambusaria sold 308 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $357.36, for a total value of $110,066.88. Following the sale, the director owned 6,107 shares of the company’s stock, valued at $2,182,397.52. The trade was a 4.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,867 shares of company stock worth $1,726,944 over the last three months. 0.60% of the stock is owned by insiders.

About LPL Financial

LPL Financial Holdings Inc provides brokerage and investment advisory services through a network of independent financial professionals. The company supports financial advisors, registered investment advisers, banks and credit unions with services designed to help them serve individual and institutional clients.

Its offerings include investment and retirement planning platforms, brokerage and advisory account services, custody, financial technology, research, compliance support and practice-management resources.