JPMorgan Chase & Co. boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 138.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 301,281 shares of the company’s stock after buying an additional 174,744 shares during the period. JPMorgan Chase & Co. owned about 0.34% of LPL Financial Holdings worth $6,788,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. FPR Partners LLC raised its position in LPL Financial Holdings by 1.2% in the first quarter. FPR Partners LLC now owns 11,971,736 shares of the company’s stock worth $296,899,000 after buying an additional 145,029 shares in the last quarter. Clarkston Capital Partners LLC raised its position in LPL Financial Holdings by 9.8% in the second quarter. Clarkston Capital Partners LLC now owns 3,311,935 shares of the company’s stock worth $74,618,000 after buying an additional 296,840 shares in the last quarter. State Street Corp raised its position in LPL Financial Holdings by 6.5% in the first quarter. State Street Corp now owns 1,186,637 shares of the company’s stock worth $29,428,000 after buying an additional 72,241 shares in the last quarter. A.R.T. Advisors LLC bought a new position in LPL Financial Holdings during the first quarter worth about $11,047,000. Finally, Bank of New York Mellon Corp raised its position in LPL Financial Holdings by 10.1% in the second quarter. Bank of New York Mellon Corp now owns 408,174 shares of the company’s stock worth $9,194,000 after buying an additional 37,428 shares in the last quarter.
Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) traded up 1.72% during midday trading on Monday, hitting $31.27. The stock had a trading volume of 108,396 shares. LPL Financial Holdings Inc. has a one year low of $15.38 and a one year high of $48.00. The company has a market cap of $2.79 billion, a P/E ratio of 17.43 and a beta of 1.70. The firm has a 50 day moving average of $29.54 and a 200-day moving average of $26.16.
LPL Financial Holdings (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1,000 million. LPL Financial Holdings had a net margin of 4.05% and a return on equity of 22.96%. LPL Financial Holdings’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, analysts forecast that LPL Financial Holdings Inc. will post $1.84 earnings per share for the current fiscal year.
LPLA has been the topic of a number of research reports. Morgan Stanley initiated coverage on LPL Financial Holdings in a report on Monday, September 26th. They set an “underweight” rating and a $27.00 price target on the stock. TheStreet raised LPL Financial Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Zacks Investment Research lowered LPL Financial Holdings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Credit Suisse Group AG lowered LPL Financial Holdings from an “outperform” rating to a “neutral” rating and set a $28.00 price target on the stock. in a report on Monday, August 22nd. They noted that the move was a valuation call. Finally, Nomura reaffirmed a “hold” rating on shares of LPL Financial Holdings in a report on Monday, July 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.41.
LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country.
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