33,256 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Purchased by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 33,256 shares of the financial services provider’s stock, valued at approximately $7,736,000.

Several other large investors have also recently bought and sold shares of the stock. Daiwa Securities Group Inc. boosted its holdings in shares of LPL Financial by 50.6% in the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock valued at $3,685,000 after acquiring an additional 5,320 shares in the last quarter. Raymond James & Associates boosted its stake in LPL Financial by 5.4% during the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock valued at $110,070,000 after purchasing an additional 20,123 shares in the last quarter. Coronation Fund Managers Ltd. increased its position in shares of LPL Financial by 68.2% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider’s stock valued at $50,586,000 after purchasing an additional 88,196 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of LPL Financial by 882.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 85,914 shares of the financial services provider’s stock worth $23,996,000 after buying an additional 77,169 shares in the last quarter. Finally, Bridgewater Associates LP lifted its holdings in shares of LPL Financial by 230.4% in the third quarter. Bridgewater Associates LP now owns 35,848 shares of the financial services provider’s stock valued at $8,339,000 after buying an additional 24,998 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $323.91 on Tuesday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $330.72. The business’s 50-day moving average price is $276.62 and its two-hundred day moving average price is $255.43. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market capitalization of $24.25 billion, a P/E ratio of 24.35, a price-to-earnings-growth ratio of 1.59 and a beta of 0.86.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.74 earnings per share. Analysts anticipate that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Thursday, November 14th. LPL Financial’s payout ratio is presently 9.02%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LPLA. StockNews.com raised LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. UBS Group lifted their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. TD Cowen increased their target price on shares of LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Citigroup lifted their price target on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company raised LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $290.83.

About LPL Financial

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.