Calamos Advisors LLC increased its holdings in LPL Financial Holdings Inc (NASDAQ:LPLA) by 136.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,440 shares of the financial services provider’s stock after buying an additional 4,290 shares during the period. Calamos Advisors LLC’s holdings in LPL Financial were worth $480,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Janus Henderson Group PLC raised its position in shares of LPL Financial by 1.5% in the second quarter. Janus Henderson Group PLC now owns 9,987,258 shares of the financial services provider’s stock worth $654,565,000 after buying an additional 148,911 shares in the last quarter. BlackRock Inc. raised its position in shares of LPL Financial by 3.0% in the second quarter. BlackRock Inc. now owns 4,108,168 shares of the financial services provider’s stock worth $269,249,000 after buying an additional 117,989 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of LPL Financial by 28.8% in the second quarter. Frontier Capital Management Co. LLC now owns 2,246,192 shares of the financial services provider’s stock worth $147,215,000 after buying an additional 502,850 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of LPL Financial by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 1,459,068 shares of the financial services provider’s stock worth $95,628,000 after buying an additional 121,656 shares in the last quarter. Finally, FMR LLC raised its position in shares of LPL Financial by 34.4% in the second quarter. FMR LLC now owns 1,456,514 shares of the financial services provider’s stock worth $95,460,000 after buying an additional 372,986 shares in the last quarter. Institutional investors own 94.62% of the company’s stock.
A number of equities research analysts recently issued reports on the company. ValuEngine downgraded LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Zacks Investment Research downgraded LPL Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $83.00 price objective on shares of LPL Financial in a research report on Friday, July 27th. Morgan Stanley lowered their price objective on LPL Financial from $74.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 12th. Finally, BidaskClub downgraded LPL Financial from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $78.73.
LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 25th. The financial services provider reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.30 billion. LPL Financial had a return on equity of 35.98% and a net margin of 7.09%. As a group, sell-side analysts anticipate that LPL Financial Holdings Inc will post 5.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Thursday, November 8th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.78%. LPL Financial’s dividend payout ratio is presently 33.33%.
In related news, Director Michelle Oroschakoff sold 6,000 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $67.11, for a total value of $402,660.00. Following the transaction, the director now owns 19,811 shares of the company’s stock, valued at $1,329,516.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 12,250 shares of company stock worth $820,160. 2.60% of the stock is owned by insiders.
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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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