LPL Financial Holdings Inc. (NASDAQ:LPLA) Stake Boosted by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC boosted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,649 shares of the financial services provider’s stock after buying an additional 247 shares during the period. Kovitz Investment Group Partners LLC’s holdings in LPL Financial were worth $1,297,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

LPLA has been the subject of several research analyst reports. Jefferies Financial Group reduced their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Barclays increased their price target on shares of LPL Financial from $311.00 to $378.00 and gave the stock an “overweight” rating in a research report on Monday. 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. Citigroup increased their target price on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company upgraded 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. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $296.42.

Insider Transactions at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the transaction, the director now owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by corporate insiders.

LPL Financial Trading Up 1.1 %

LPL Financial stock opened at $324.05 on Wednesday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $332.91. The company’s fifty day moving average price is $288.18 and its two-hundred day moving average price is $257.64. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market capitalization of $24.26 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.60 and a beta of 0.86.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the firm posted $3.74 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts forecast that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given 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 was 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.