Captrust Financial Advisors Has $45.96 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Captrust Financial Advisors boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1,174.1% in the third quarter, Holdings Channel reports. The fund owned 197,584 shares of the financial services provider’s stock after acquiring an additional 182,076 shares during the period. Captrust Financial Advisors’ holdings in LPL Financial were worth $45,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of LPLA. Ashton Thomas Private Wealth LLC acquired a new stake in shares of LPL Financial in the second quarter worth $25,000. Key Financial Inc acquired a new stake in LPL Financial in the 2nd quarter worth $28,000. Ashton Thomas Securities LLC bought a new position in shares of LPL Financial during the 3rd quarter worth about $31,000. Paladin Wealth LLC acquired a new position in shares of LPL Financial during the third quarter valued at about $34,000. Finally, Crewe Advisors LLC lifted its stake in shares of LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after buying an additional 101 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Cowen boosted their price target on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Jefferies Financial Group lowered their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. UBS Group raised their target price on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. Finally, StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $286.92.

LPL Financial Stock Down 0.2 %

NASDAQ LPLA opened at $325.15 on Friday. The stock’s 50 day simple moving average is $272.36 and its 200 day simple moving average is $254.81. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $330.72. The firm has a market cap of $24.35 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last announced its earnings results 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. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the business earned $3.74 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Thursday, November 14th. LPL Financial’s dividend payout ratio is presently 9.02%.

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.