Cypress Capital Management LLC WY Acquires Shares of 9,330 LPL Financial Holdings Inc. (LPLA)
Cypress Capital Management LLC WY acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,330 shares of the financial services provider’s stock, valued at approximately $481,000.
Other large investors have also recently made changes to their positions in the company. Meridian Wealth Management LLC bought a new position in LPL Financial Holdings in the third quarter valued at approximately $316,000. Prudential Financial Inc. grew its stake in shares of LPL Financial Holdings by 15.1% during the second quarter. Prudential Financial Inc. now owns 441,404 shares of the financial services provider’s stock worth $18,742,000 after buying an additional 57,830 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of LPL Financial Holdings by 166.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,393 shares of the financial services provider’s stock worth $1,036,000 after buying an additional 15,229 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of LPL Financial Holdings during the second quarter worth $4,034,000. Finally, First Trust Advisors LP grew its stake in shares of LPL Financial Holdings by 17.4% during the second quarter. First Trust Advisors LP now owns 261,783 shares of the financial services provider’s stock worth $11,115,000 after buying an additional 38,883 shares during the last quarter. 90.26% of the stock is currently owned by institutional investors and hedge funds.
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A number of analysts have weighed in on LPLA shares. Zacks Investment Research cut shares of LPL Financial Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $65.00 target price on shares of LPL Financial Holdings in a research note on Friday, October 27th. BidaskClub raised shares of LPL Financial Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Citigroup Inc. boosted their target price on shares of LPL Financial Holdings from $60.50 to $65.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, Morgan Stanley boosted their target price on shares of LPL Financial Holdings from $39.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. LPL Financial Holdings currently has an average rating of “Hold” and an average price target of $53.20.
Shares of LPL Financial Holdings Inc. (LPLA) traded down $0.50 during trading on Thursday, hitting $48.68. 983,600 shares of the company traded hands, compared to its average volume of 723,416. 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 Inc. has a one year low of $34.01 and a one year high of $53.92. The company has a market capitalization of $4,435.55, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.64 and a beta of 1.89.
LPL Financial Holdings (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. LPL Financial Holdings had a net margin of 5.19% and a return on equity of 26.03%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm posted $0.58 earnings per share. LPL Financial Holdings’s revenue for the quarter was up 4.6% on a year-over-year basis. equities research analysts anticipate that LPL Financial Holdings Inc. will post 2.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Thursday, November 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.05%. LPL Financial Holdings’s dividend payout ratio is 42.55%.
LPL Financial Holdings Company Profile
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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