LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC grew its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 98.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,662 shares of the financial services provider’s stock after purchasing an additional 3,809 shares during the quarter. Tidal Investments LLC’s holdings in LPL Financial were worth $1,782,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LPLA. FMR LLC raised its stake 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 purchasing an additional 650,675 shares in the last quarter. Southpoint Capital Advisors LP raised its stake in shares of LPL Financial by 50.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock valued at $174,472,000 after purchasing an additional 250,000 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of LPL Financial by 9.9% in 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 purchasing an additional 233,242 shares in the last quarter. Maverick Capital Ltd. raised its stake in shares of LPL Financial by 82.0% in the 3rd quarter. Maverick Capital Ltd. now owns 497,075 shares of the financial services provider’s stock valued at $115,635,000 after purchasing an additional 223,931 shares in the last quarter. Finally, Azora Capital LP raised its stake in shares of LPL Financial by 52.2% in the 3rd quarter. Azora Capital LP now owns 643,544 shares of the financial services provider’s stock valued at $149,708,000 after purchasing an additional 220,622 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Price Performance

NASDAQ LPLA opened at $329.40 on Wednesday. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $334.38. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market cap of $24.67 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 1.61 and a beta of 0.86. The company has a 50-day moving average price of $295.61 and a two-hundred day moving average price of $259.01.

LPL Financial (NASDAQ:LPLA) last posted its earnings results 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. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.74 EPS. Analysts forecast that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Thursday, November 14th. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

Analysts Set New Price Targets

LPLA has been the topic of a number of recent analyst reports. 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. Morgan Stanley boosted their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. The Goldman Sachs Group boosted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, UBS Group boosted their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $305.17.

Insider Activity

In other news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, the director now directly owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

LPL Financial 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.