GSA Capital Partners LLP trimmed its position in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 48.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,711 shares of the financial services provider’s stock after selling 44,510 shares during the period. GSA Capital Partners LLP owned about 0.05% of LPL Financial worth $2,460,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Mckinley Capital Management LLC Delaware bought a new position in shares of LPL Financial during the second quarter valued at about $104,000. Public Employees Retirement Association of Colorado raised its stake in shares of LPL Financial by 1.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 52 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of LPL Financial by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 211 shares during the last quarter. Comerica Bank bought a new position in shares of LPL Financial during the third quarter valued at about $200,000. Finally, Virginia Retirement Systems ET AL bought a new position in shares of LPL Financial during the third quarter valued at about $227,000. 90.33% of the stock is owned by hedge funds and other institutional investors.
LPLA has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Thursday, October 26th. Nomura boosted their price target on shares of LPL Financial from $53.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. ValuEngine cut shares of LPL Financial from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. J P Morgan Chase & Co reiterated a “neutral” rating and set a $51.00 price target (up previously from $48.00) on shares of LPL Financial in a research report on Friday, August 18th. Finally, Citigroup boosted their price target on shares of LPL Financial from $60.50 to $65.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. LPL Financial presently has an average rating of “Hold” and an average target price of $54.55.
Shares of LPL Financial Holdings Inc (LPLA) opened at $54.90 on Friday. LPL Financial Holdings Inc has a fifty-two week low of $34.45 and a fifty-two week high of $56.56. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.54. The firm has a market cap of $4,960.00, a PE ratio of 22.57, a price-to-earnings-growth ratio of 1.88 and a beta of 1.88.
LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.03. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. equities analysts expect that LPL Financial Holdings Inc will post 2.31 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 27th. Stockholders 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 dividend yield of 1.82%. The ex-dividend date was Wednesday, November 8th. LPL Financial’s payout ratio is 42.37%.
LPL Financial announced that its board has approved a share buyback plan on Tuesday, December 5th that permits the company to buyback $359.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
LPL Financial Profile
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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