Riverhead Capital Management LLC lifted its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 197.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 11,301 shares of the financial services provider’s stock after acquiring an additional 7,501 shares during the quarter. Riverhead Capital Management LLC’s holdings in LPL Financial Holdings were worth $480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement Association of Colorado lifted its holdings in shares of LPL Financial Holdings by 1.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 52 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of LPL Financial Holdings in the 1st quarter worth approximately $171,000. Meadow Creek Investment Management LLC bought a new stake in shares of LPL Financial Holdings in the 1st quarter worth approximately $242,000. Teacher Retirement System of Texas lifted its holdings in shares of LPL Financial Holdings by 10.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,514 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 611 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of LPL Financial Holdings by 1,477.4% in the 2nd quarter. US Bancorp DE now owns 6,988 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 6,545 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

A number of equities research analysts have recently weighed in on LPLA shares. Keefe, Bruyette & Woods restated a “hold” rating and issued a $44.00 price objective on shares of LPL Financial Holdings in a report on Tuesday, July 4th. Morgan Stanley restated an “underweight” rating and issued a $38.00 price objective (up from $35.00) on shares of LPL Financial Holdings in a report on Monday, July 10th. BidaskClub lowered shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Nomura boosted their price objective on shares of LPL Financial Holdings from $53.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Finally, Zacks Investment Research lowered shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $48.20.

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) opened at 49.85 on Friday. The company’s 50-day moving average is $46.22 and its 200-day moving average is $42.35. LPL Financial Holdings Inc. has a 12-month low of $28.38 and a 12-month high of $50.06. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 21.66 and a beta of 1.84.

LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm posted $0.53 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Analysts predict that LPL Financial Holdings Inc. will post $2.40 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Tuesday, August 8th. LPL Financial Holdings’s dividend payout ratio (DPR) is currently 43.48%.

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LPL Financial Holdings Company Profile

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

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Institutional Ownership by Quarter for LPL Financial Holdings (NASDAQ:LPLA)

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