Caisse DE Depot ET Placement DU Quebec Acquires New Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 62,104 shares of the financial services provider’s stock, valued at approximately $14,447,000. Caisse DE Depot ET Placement DU Quebec owned approximately 0.08% of LPL Financial as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Bridges Investment Management Inc. grew its position in LPL Financial by 3.2% in the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 37 shares in the last quarter. Avior Wealth Management LLC grew its position in LPL Financial by 1.8% in the third quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock worth $562,000 after acquiring an additional 42 shares in the last quarter. MFA Wealth Advisors LLC grew its position in LPL Financial by 3.9% in the third quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after acquiring an additional 43 shares in the last quarter. Metis Global Partners LLC grew its position in LPL Financial by 5.1% in the third quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 46 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in LPL Financial by 2.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,218 shares of the financial services provider’s stock worth $516,000 after acquiring an additional 49 shares in the last quarter. 95.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LPLA. Citigroup boosted their price objective 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. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Morgan Stanley boosted their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. TD Cowen boosted their price objective on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group reduced their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $290.83.

LPL Financial Trading Down 0.2 %

Shares of LPLA stock opened at $325.15 on Monday. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $330.72. The stock has a market cap of $24.35 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.59 and a beta of 0.85. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a fifty day moving average of $274.56 and a 200-day moving average of $255.03.

LPL Financial (NASDAQ:LPLA) last announced 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. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the company posted $3.74 EPS. The business’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 9.02%.

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 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.