Fmr LLC Has $448,000 Stake in LPL Financial Holdings Inc. (LPLA)
Fmr LLC held its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,551 shares of the financial services provider’s stock at the close of the second quarter. Fmr LLC’s holdings in LPL Financial Holdings were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LPLA. BlackRock Inc. grew its holdings in shares of LPL Financial Holdings by 11,835.9% during the 1st quarter. BlackRock Inc. now owns 3,512,602 shares of the financial services provider’s stock worth $139,907,000 after purchasing an additional 3,483,173 shares during the period. Vanguard Group Inc. grew its holdings in shares of LPL Financial Holdings by 10.4% during the 2nd quarter. Vanguard Group Inc. now owns 8,779,510 shares of the financial services provider’s stock worth $372,778,000 after purchasing an additional 827,372 shares during the period. Bank of Montreal Can grew its holdings in shares of LPL Financial Holdings by 7,068.5% during the 2nd quarter. Bank of Montreal Can now owns 176,775 shares of the financial services provider’s stock worth $7,506,000 after purchasing an additional 174,309 shares during the period. Capital Fund Management S.A. purchased a new position in shares of LPL Financial Holdings during the 2nd quarter worth $6,543,000. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in shares of LPL Financial Holdings during the 2nd quarter worth $4,411,000. Institutional investors and hedge funds own 90.18% of the company’s stock.
LPL Financial Holdings Inc. (NASDAQ:LPLA) opened at $50.33 on Friday. LPL Financial Holdings Inc. has a twelve month low of $34.01 and a twelve month high of $53.92. The company has a market capitalization of $4,539.26, a PE ratio of 20.21, a P/E/G ratio of 1.68 and a beta of 1.89. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.54.
LPL Financial Holdings (NASDAQ:LPLA) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. LPL Financial Holdings had a return on equity of 26.03% and a net margin of 5.19%. LPL Financial Holdings’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the business posted $0.58 EPS. equities analysts anticipate that LPL Financial Holdings Inc. will post 2.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Thursday, November 9th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, November 8th. LPL Financial Holdings’s payout ratio is presently 42.55%.
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A number of equities analysts have recently weighed in on the company. SunTrust Banks, Inc. reiterated a “buy” rating and set a $65.00 price target on shares of LPL Financial Holdings in a report on Friday, October 27th. Zacks Investment Research upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Thursday, October 26th. ValuEngine cut LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Morgan Stanley increased their price target on LPL Financial Holdings from $39.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, October 5th. Finally, Citigroup Inc. increased their price target on LPL Financial Holdings from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.20.
About LPL Financial Holdings
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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