LPL Financial Holdings Inc (LPLA) Holdings Lifted by Nationwide Fund Advisors
Nationwide Fund Advisors boosted its stake in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 799.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,801 shares of the financial services provider’s stock after acquiring an additional 134,035 shares during the quarter. Nationwide Fund Advisors owned 0.17% of LPL Financial worth $7,777,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware acquired a new position in LPL Financial during the second quarter worth $104,000. Public Employees Retirement Association of Colorado increased its stake in shares of LPL Financial by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock valued at $118,000 after buying an additional 52 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of LPL Financial by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after buying an additional 211 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of LPL Financial by 10.4% in the second quarter. Teacher Retirement System of Texas now owns 6,514 shares of the financial services provider’s stock valued at $277,000 after buying an additional 611 shares in the last quarter. Finally, Logan Capital Management Inc. acquired a new stake in shares of LPL Financial in the second quarter valued at $287,000. Hedge funds and other institutional investors own 90.33% of the company’s stock.
Shares of LPL Financial Holdings Inc (NASDAQ LPLA) opened at $55.31 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $4,868.46, a PE ratio of 21.68, a P/E/G ratio of 1.80 and a beta of 1.88. LPL Financial Holdings Inc has a 12-month low of $34.45 and a 12-month high of $55.39.
LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. LPL Financial had a return on equity of 26.03% and a net margin of 5.19%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $0.58 earnings per share. analysts anticipate that LPL Financial Holdings Inc will post 2.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Thursday, November 9th were given a $0.25 dividend. The ex-dividend date was Wednesday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. LPL Financial’s payout ratio is 42.55%.
LPL Financial announced that its Board of Directors has approved a share buyback program on Tuesday, December 5th that permits the company to repurchase $359.00 million in shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of analysts have recently weighed in on the company. J P Morgan Chase & Co restated a “neutral” rating and issued a $51.00 target price (up from $48.00) on shares of LPL Financial in a research note on Friday, August 18th. Nomura raised their target price on LPL Financial from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered LPL Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. SunTrust Banks upgraded LPL Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $49.00 to $55.00 in a research note on Wednesday, August 16th. Finally, Credit Suisse Group assumed coverage on LPL Financial in a research note on Thursday, November 30th. They issued an “outperform” rating and a $68.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. LPL Financial presently has a consensus rating of “Hold” and an average price target of $54.55.
In related news, CEO Dan H. Arnold sold 3,742 shares of LPL Financial stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total value of $181,636.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is owned by company insiders.
LPL Financial 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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