LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Acquired by Anchor Investment Management LLC

Anchor Investment Management LLC grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 15.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,669 shares of the financial services provider’s stock after purchasing an additional 1,304 shares during the quarter. Anchor Investment Management LLC’s holdings in LPL Financial were worth $2,249,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in shares of LPL Financial by 24.4% during the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after purchasing an additional 650,675 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of 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 worth $723,329,000 after buying an additional 233,242 shares during the period. Geode Capital Management LLC increased its position in shares of LPL Financial by 2.6% in the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock worth $333,581,000 after acquiring an additional 36,474 shares in the last quarter. Samlyn Capital LLC raised its holdings in shares of LPL Financial by 8.0% during the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after acquiring an additional 88,635 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in LPL Financial by 11.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider’s stock worth $247,077,000 after purchasing an additional 90,020 shares during the period. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 0.1 %

LPLA opened at $330.10 on Friday. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $334.38. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The business has a 50 day moving average price of $292.05 and a 200 day moving average price of $258.65. The firm has a market cap of $24.72 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 1.61 and a beta of 0.86.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.47. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.74 EPS. Research analysts forecast that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Dividend Announcement

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

Insider Buying and Selling

In related news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LPLA. Wells Fargo & Company boosted their target price on shares of LPL Financial from $310.00 to $390.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley increased their price objective on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. 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. Jefferies Financial Group lowered their price target on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, JMP Securities reiterated a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and an average price target of $305.17.

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.