Poplar Forest Capital LLC Takes Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Poplar Forest Capital LLC acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,311 shares of the financial services provider’s stock, valued at approximately $7,749,000. LPL Financial accounts for 1.1% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 28th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of LPL Financial in the 2nd quarter worth about $25,000. Key Financial Inc acquired a new stake in shares of LPL Financial in the 2nd quarter worth about $28,000. Crewe Advisors LLC raised its holdings in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 101 shares during the last quarter. Tortoise Investment Management LLC raised its holdings in shares of LPL Financial by 74.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 56 shares during the last quarter. Finally, Paladin Wealth LLC acquired a new stake in shares of LPL Financial in the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Up 11.7 %

LPLA opened at $308.16 on Thursday. The company has a 50 day moving average of $239.07 and a 200 day moving average of $249.06. The company has a market cap of $23.04 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.34 and a beta of 0.85. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $309.00. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the firm earned $3.74 EPS. LPL Financial’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, sell-side analysts expect that LPL Financial Holdings Inc. will post 16.03 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.39%. The ex-dividend date is Thursday, November 14th. LPL Financial’s dividend payout ratio is presently 9.02%.

Analysts Set New Price Targets

LPLA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. TD Cowen upped their price objective on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. Jefferies Financial Group reduced their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $286.92.

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.