LPL Financial Holdings Inc. (NASDAQ:LPLA) is Southpoint Capital Advisors LP’s 8th Largest Position

Southpoint Capital Advisors LP boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 50.0% during the 3rd quarter, Holdings Channel reports. The fund owned 750,000 shares of the financial services provider’s stock after buying an additional 250,000 shares during the period. LPL Financial comprises about 4.1% of Southpoint Capital Advisors LP’s portfolio, making the stock its 8th largest position. Southpoint Capital Advisors LP’s holdings in LPL Financial were worth $174,472,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FMR LLC increased its holdings in shares of LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after acquiring an additional 650,675 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in LPL Financial by 9.9% in the second 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 acquiring an additional 233,242 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of LPL Financial by 31.1% during 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 purchasing an additional 183,755 shares in the last quarter. Captrust Financial Advisors grew its stake in LPL Financial by 1,174.1% during the 3rd quarter. Captrust Financial Advisors now owns 197,584 shares of the financial services provider’s stock worth $45,964,000 after buying an additional 182,076 shares during the last quarter. Finally, Tybourne Capital Management HK Ltd. acquired a new stake in LPL Financial in the third quarter worth about $40,175,000. Institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on LPLA. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. TD Cowen raised their price target on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Barclays boosted their price objective on shares of LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. JMP Securities restated a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research note on Wednesday, October 9th. Finally, Citigroup boosted their price target on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Trading Down 0.2 %

Shares of LPLA stock opened at $325.15 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $330.72. The company has a market cap of $24.35 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.59 and a beta of 0.85. The stock has a 50 day simple moving average of $274.56 and a 200-day simple moving average of $255.21.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the firm earned $3.74 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 16.1 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. LPL Financial’s dividend 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.