Future Fund LLC Acquires 898 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Future Fund LLC lifted its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 20.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,190 shares of the financial services provider’s stock after buying an additional 898 shares during the period. LPL Financial comprises 3.6% of Future Fund LLC’s holdings, making the stock its 11th largest holding. Future Fund LLC’s holdings in LPL Financial were worth $1,207,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in LPLA. Aigen Investment Management LP purchased a new position in shares of LPL Financial during the 3rd quarter worth about $963,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of LPL Financial by 2.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 175,199 shares of the financial services provider’s stock worth $40,757,000 after purchasing an additional 4,572 shares during the period. GSA Capital Partners LLP boosted its stake in shares of LPL Financial by 116.9% during the 3rd quarter. GSA Capital Partners LLP now owns 2,978 shares of the financial services provider’s stock worth $693,000 after purchasing an additional 1,605 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of LPL Financial during the 3rd quarter worth about $31,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of LPL Financial during the 3rd quarter worth about $305,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Trading Down 0.2 %

NASDAQ LPLA opened at $317.24 on Wednesday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market cap of $23.75 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 1.55 and a beta of 0.85. The company has a 50 day moving average price of $246.29 and a 200 day moving average price of $250.28. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $321.92.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.74 EPS. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 16.08 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. LPL Financial’s payout ratio is 9.02%.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of recent analyst reports. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $235.00 to $285.00 in a research note on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays boosted their price objective on shares of LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Citigroup boosted their price objective on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, LPL Financial has a consensus rating of “Moderate Buy” and a consensus target price of $286.92.

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.