King Luther Capital Management Corp Has $1.58 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

King Luther Capital Management Corp grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 15.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,778 shares of the financial services provider’s stock after buying an additional 918 shares during the quarter. King Luther Capital Management Corp’s holdings in LPL Financial were worth $1,577,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in LPLA. Bridges Investment Management Inc. raised its stake in LPL Financial by 3.2% during the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 37 shares during the period. Avior Wealth Management LLC lifted its stake in LPL Financial by 1.8% in the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock worth $562,000 after acquiring an additional 42 shares in the last quarter. MFA Wealth Advisors LLC boosted its position in LPL Financial by 3.9% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 43 shares during the period. Metis Global Partners LLC grew its stake in LPL Financial by 5.1% during the 3rd quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 46 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of LPL Financial by 2.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,218 shares of the financial services provider’s stock valued at $516,000 after purchasing an additional 49 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup boosted their price objective on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. UBS Group upped their price target on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lifted their price objective on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays upped their target price on LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, JMP Securities reiterated a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Stock Up 1.1 %

Shares of LPL Financial stock opened at $326.85 on Friday. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $327.55. The stock has a market capitalization of $24.47 billion, a P/E ratio of 24.58, a PEG ratio of 1.54 and a beta of 0.85. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a 50 day moving average price of $260.89 and a two-hundred day moving average price of $252.81.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $3.74 EPS. Equities analysts expect that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. LPL Financial’s payout ratio is presently 9.02%.

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.