Waratah Capital Advisors Ltd. raised its holdings in LPL Financial Holdings Inc (NASDAQ:LPLA) by 296.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,388 shares of the financial services provider’s stock after purchasing an additional 12,999 shares during the period. Waratah Capital Advisors Ltd.’s holdings in LPL Financial were worth $1,122,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Soros Fund Management LLC raised its position in shares of LPL Financial by 106.6% in the 2nd quarter. Soros Fund Management LLC now owns 571,971 shares of the financial services provider’s stock valued at $37,487,000 after purchasing an additional 295,171 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of LPL Financial by 12.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 9,853 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 1,065 shares in the last quarter. Clearfield Capital Management LP raised its position in shares of LPL Financial by 35.2% in the 2nd quarter. Clearfield Capital Management LP now owns 390,864 shares of the financial services provider’s stock valued at $25,617,000 after purchasing an additional 101,796 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of LPL Financial by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,459,068 shares of the financial services provider’s stock valued at $95,628,000 after purchasing an additional 121,656 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in shares of LPL Financial by 116.9% during the 2nd quarter. Private Advisor Group LLC now owns 14,550 shares of the financial services provider’s stock valued at $960,000 after acquiring an additional 7,842 shares in the last quarter. 94.62% of the stock is currently owned by institutional investors.
LPLA has been the topic of several research reports. Wolfe Research initiated coverage on LPL Financial in a research report on Tuesday, September 25th. They set an “outperform” rating on the stock. BidaskClub lowered LPL Financial from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 8th. Morgan Stanley dropped their price target 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. Zacks Investment Research raised LPL Financial from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Tuesday, August 14th. Finally, Wells Fargo & Co upped their price target on LPL Financial from $70.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. LPL Financial presently has a consensus rating of “Hold” and a consensus price target of $78.73.
LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. LPL Financial had a return on equity of 35.98% and a net margin of 7.09%. Sell-side analysts expect that LPL Financial Holdings Inc will post 5.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Thursday, November 8th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.78%. LPL Financial’s payout ratio is currently 33.33%.
In related news, CEO Dan H. Arnold sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $66.90, for a total transaction of $401,400.00. Following the completion of the transaction, the chief executive officer now directly owns 239,761 shares in the company, valued at approximately $16,040,010.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 12,250 shares of company stock valued at $820,160. 2.60% of the stock is owned by company 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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