Point72 Asset Management L.P. Grows Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Point72 Asset Management L.P. boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 144.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 350,382 shares of the financial services provider’s stock after purchasing an additional 207,153 shares during the quarter. Point72 Asset Management L.P.’s holdings in LPL Financial were worth $81,509,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LPLA. FMR LLC boosted its position in shares of LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after buying an additional 650,675 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of LPL Financial by 9.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after purchasing an additional 233,242 shares in the last quarter. Samlyn Capital LLC grew its position in shares of LPL Financial by 8.0% in the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after purchasing an additional 88,635 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of LPL Financial by 11.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider’s stock worth $247,077,000 after purchasing an additional 90,020 shares in the last quarter. Finally, Darlington Partners Capital Management LP increased its stake in shares of LPL Financial by 9.5% during the 2nd quarter. Darlington Partners Capital Management LP now owns 783,290 shares of the financial services provider’s stock worth $218,773,000 after purchasing an additional 68,276 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Price Performance

LPLA stock opened at $323.27 on Wednesday. The firm has a market cap of $24.21 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 1.58 and a beta of 0.86. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $330.72. The stock has a 50-day simple moving average of $278.64 and a 200-day simple moving average of $255.82.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion for 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%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.74 earnings per share. On average, equities analysts predict that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date was Thursday, November 14th. LPL Financial’s dividend payout ratio is currently 9.02%.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of analyst reports. TD Cowen increased their target price on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Wells Fargo & Company raised LPL Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $235.00 to $285.00 in a research note on Wednesday, October 9th. Morgan Stanley boosted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Citigroup raised their price target on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, LPL Financial presently has an average rating of “Moderate Buy” and an average target price of $290.83.

LPL Financial 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 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.