JPMorgan Chase & Co. boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 36.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,753 shares of the financial services provider’s stock after purchasing an additional 102,817 shares during the period. JPMorgan Chase & Co. owned 0.42% of LPL Financial Holdings worth $16,210,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LPLA. Swiss National Bank increased its stake in shares of LPL Financial Holdings by 8.4% in the 2nd quarter. Swiss National Bank now owns 135,000 shares of the financial services provider’s stock valued at $5,732,000 after buying an additional 10,500 shares during the period. Chicago Equity Partners LLC increased its stake in shares of LPL Financial Holdings by 45.5% in the 2nd quarter. Chicago Equity Partners LLC now owns 13,820 shares of the financial services provider’s stock valued at $587,000 after buying an additional 4,320 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of LPL Financial Holdings by 166.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,393 shares of the financial services provider’s stock valued at $1,036,000 after buying an additional 15,229 shares during the period. Pacer Advisors Inc. increased its stake in shares of LPL Financial Holdings by 17.7% in the 2nd quarter. Pacer Advisors Inc. now owns 10,221 shares of the financial services provider’s stock valued at $434,000 after buying an additional 1,538 shares during the period. Finally, Utah Retirement Systems increased its stake in shares of LPL Financial Holdings by 3.2% in the 2nd quarter. Utah Retirement Systems now owns 16,176 shares of the financial services provider’s stock valued at $687,000 after buying an additional 500 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.

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Several equities research analysts have recently commented on the company. Zacks Investment Research cut LPL Financial Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday. Nomura lifted their target price on LPL Financial Holdings from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $51.00 target price (up from $48.00) on shares of LPL Financial Holdings in a research note on Friday, August 18th. SunTrust Banks, Inc. raised LPL Financial Holdings from a “hold” rating to a “buy” rating and lifted their target price for the company from $49.00 to $55.00 in a research note on Wednesday, August 16th. Finally, BidaskClub raised LPL Financial Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $48.20.

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) opened at 49.51 on Friday. LPL Financial Holdings Inc. has a 52 week low of $28.38 and a 52 week high of $49.90. The company’s 50 day moving average price is $46.22 and its 200-day moving average price is $42.35. The firm has a market capitalization of $4.45 billion, a PE ratio of 21.51 and a beta of 1.84.

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

LPL Financial Holdings 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.

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

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