LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.7% in the third quarter, Holdings Channel.com reports. The firm owned 175,199 shares of the financial services provider’s stock after acquiring an additional 4,572 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in LPL Financial were worth $40,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP grew its holdings in LPL Financial by 116.9% in the 3rd quarter. GSA Capital Partners LLP now owns 2,978 shares of the financial services provider’s stock valued at $693,000 after buying an additional 1,605 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of LPL Financial during the 3rd quarter valued at about $31,000. Los Angeles Capital Management LLC purchased a new stake in shares of LPL Financial in the third quarter valued at about $305,000. State of New Jersey Common Pension Fund D increased its position in LPL Financial by 0.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 27,408 shares of the financial services provider’s stock worth $6,376,000 after purchasing an additional 165 shares during the last quarter. Finally, Tyler Stone Wealth Management raised its stake in LPL Financial by 100.0% during the third quarter. Tyler Stone Wealth Management now owns 1,038 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 519 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on LPLA shares. Morgan Stanley raised their price target on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. TD Cowen raised their target price on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their price target on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup raised their price objective on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $286.92.

LPL Financial Trading Down 0.2 %

Shares of LPLA stock opened at $314.02 on Friday. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $322.03. The company has a 50 day moving average price of $252.22 and a 200 day moving average price of $251.45. The stock has a market capitalization of $23.51 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.74 earnings per share. Equities research analysts predict that LPL Financial Holdings Inc. will post 16.08 EPS for the current fiscal year.

LPL Financial Announces Dividend

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

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.