LPL Financial Holdings Inc. (LPLA) Holdings Raised by Globeflex Capital L P
Globeflex Capital L P grew its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 33.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,600 shares of the financial services provider’s stock after acquiring an additional 11,490 shares during the quarter. Globeflex Capital L P owned 0.05% of LPL Financial Holdings worth $1,936,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Prudential Financial Inc. boosted its holdings in LPL Financial Holdings by 15.1% in the second quarter. Prudential Financial Inc. now owns 441,404 shares of the financial services provider’s stock worth $18,742,000 after acquiring an additional 57,830 shares in the last quarter. Waratah Capital Advisors Ltd. acquired a new stake in LPL Financial Holdings in the first quarter worth about $379,000. Legal & General Group Plc boosted its holdings in LPL Financial Holdings by 37.8% in the first quarter. Legal & General Group Plc now owns 72,661 shares of the financial services provider’s stock worth $2,893,000 after acquiring an additional 19,923 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in LPL Financial Holdings in the second quarter worth about $4,034,000. Finally, Bogle Investment Management L P DE acquired a new stake in LPL Financial Holdings in the first quarter worth about $1,296,000. 89.73% of the stock is owned by institutional investors and hedge funds.
Shares of LPL Financial Holdings Inc. (NASDAQ LPLA) traded down 0.68% on Friday, hitting $49.51. The stock had a trading volume of 761,342 shares. The firm’s 50-day moving average price is $46.22 and its 200 day moving average price is $42.35. The firm has a market cap of $4.45 billion, a PE ratio of 21.51 and a beta of 1.84. LPL Financial Holdings Inc. has a 52-week low of $28.38 and a 52-week high of $49.90.
LPL Financial Holdings (NASDAQ:LPLA) last announced its earnings results 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. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. LPL Financial Holdings had a return on equity of 26.45% and a net margin of 5.10%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. On average, equities research analysts predict that LPL Financial Holdings Inc. will post $2.40 EPS for the current year.
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LPLA has been the subject of several recent analyst reports. BidaskClub raised LPL Financial Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Morgan Stanley reissued an “underweight” rating and issued a $38.00 price target (up previously from $35.00) on shares of LPL Financial Holdings in a report on Monday, July 10th. Zacks Investment Research downgraded LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $48.00 price target on shares of LPL Financial Holdings in a report on Tuesday, June 6th. Finally, SunTrust Banks, Inc. raised LPL Financial Holdings from a “hold” rating to a “buy” rating and raised their price target for the stock from $49.00 to $55.00 in a report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $48.20.
About LPL Financial Holdings
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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