Invictus RG grew its stake in LPL Financial Holdings Inc (NASDAQ:LPLA) by 99.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,290 shares of the financial services provider’s stock after acquiring an additional 3,132 shares during the period. Invictus RG’s holdings in LPL Financial were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware acquired a new stake in shares of LPL Financial during the 2nd quarter worth approximately $104,000. Public Employees Retirement Association of Colorado grew its position in shares of LPL Financial by 1.9% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock worth $118,000 after buying an additional 52 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of LPL Financial by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after buying an additional 211 shares during the period. Comerica Bank acquired a new stake in shares of LPL Financial during the 3rd quarter worth approximately $200,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of LPL Financial during the 3rd quarter worth approximately $227,000. 90.33% of the stock is owned by institutional investors.
Several brokerages have recently commented on LPLA. SunTrust Banks reiterated a “buy” rating and set a $65.00 price target on shares of LPL Financial in a research report on Friday, October 27th. Nomura lifted their price target on shares of LPL Financial from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Credit Suisse Group began coverage on shares of LPL Financial in a research report on Thursday, November 30th. They set an “outperform” rating and a $68.00 price target for the company. Zacks Investment Research cut shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Finally, J P Morgan Chase & Co lifted their price target on shares of LPL Financial from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. LPL Financial presently has an average rating of “Hold” and a consensus target price of $54.55.
LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 earnings per share. equities analysts forecast that LPL Financial Holdings Inc will post 2.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Thursday, November 9th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Wednesday, November 8th. LPL Financial’s dividend payout ratio is currently 42.55%.
In related news, CEO Dan H. Arnold sold 3,742 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total transaction of $181,636.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is currently owned by insiders.
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About LPL Financial
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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