Moran Wealth Management LLC Has $653,000 Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Moran Wealth Management LLC lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 63.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,807 shares of the financial services provider’s stock after buying an additional 1,092 shares during the period. Moran Wealth Management LLC’s holdings in LPL Financial were worth $653,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial in the 2nd quarter worth about $25,000. Key Financial Inc bought a new stake in shares of LPL Financial during the second quarter worth about $28,000. Crewe Advisors LLC increased its stake in shares of LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after buying an additional 101 shares during the period. Tortoise Investment Management LLC raised its holdings in LPL Financial by 74.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after buying an additional 56 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in LPL Financial during the 3rd quarter worth approximately $31,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Trading Up 1.1 %

LPLA opened at $326.85 on Friday. The company has a market cap of $24.47 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. The company has a fifty day moving average price of $260.89 and a two-hundred day moving average price of $252.81. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $327.55.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the business earned $3.74 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts predict that LPL Financial Holdings Inc. will post 16.08 EPS for the current fiscal year.

LPL Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their price target 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. Keefe, Bruyette & Woods decreased their price objective on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Citigroup lifted their target price on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. Finally, Barclays raised their price objective on LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and an average target price of $286.92.

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.