Reinhart Partners LLC. Increases Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Reinhart Partners LLC. increased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 64.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 126,757 shares of the financial services provider’s stock after buying an additional 49,909 shares during the quarter. Reinhart Partners LLC.’s holdings in LPL Financial were worth $29,487,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners increased its position in LPL Financial by 71.9% during the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after purchasing an additional 738,509 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of LPL Financial by 33.2% during the 1st quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock worth $291,586,000 after buying an additional 275,286 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of LPL Financial by 9.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after buying an additional 233,242 shares during the period. The Manufacturers Life Insurance Company grew its position in LPL Financial by 31.1% in the second quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider’s stock worth $216,227,000 after acquiring an additional 183,755 shares during the period. Finally, Coronation Fund Managers Ltd. increased its stake in LPL Financial by 159.5% during the first quarter. Coronation Fund Managers Ltd. now owns 298,178 shares of the financial services provider’s stock worth $78,779,000 after acquiring an additional 183,290 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on LPLA. JMP Securities reissued a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a research report on Wednesday. UBS Group increased their target price on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods lowered their target price on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, The Goldman Sachs Group cut their target price on shares of LPL Financial from $289.00 to $271.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $278.23.

LPL Financial Trading Up 1.9 %

Shares of NASDAQ LPLA opened at $248.09 on Friday. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $289.88. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. The stock’s 50 day simple moving average is $219.60 and its 200 day simple moving average is $248.60.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the firm earned $3.94 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. Equities research analysts expect that LPL Financial Holdings Inc. will post 15.79 EPS for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Friday, August 9th. LPL Financial’s payout ratio is 9.06%.

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.