Engineers Gate Manager LP boosted its position in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 23.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,410 shares of the financial services provider’s stock after acquiring an additional 10,250 shares during the quarter. Engineers Gate Manager LP owned 0.06% of LPL Financial worth $2,806,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Retirement Capital Strategies raised its position in LPL Financial by 0.4% during the second quarter. Retirement Capital Strategies now owns 10,041 shares of the financial services provider’s stock worth $428,000 after acquiring an additional 41 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of LPL Financial by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 52 shares during the last quarter. Hanseatic Management Services Inc. increased its holdings in shares of LPL Financial by 0.4% in the second quarter. Hanseatic Management Services Inc. now owns 19,602 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 83 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of LPL Financial by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 211 shares during the last quarter. Finally, State of Wisconsin Investment Board increased its holdings in shares of LPL Financial by 2.9% in the second quarter. State of Wisconsin Investment Board now owns 17,588 shares of the financial services provider’s stock valued at $747,000 after purchasing an additional 490 shares during the last quarter. 90.33% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Holdings Inc (NASDAQ:LPLA) opened at $53.47 on Thursday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.48 and a quick ratio of 1.48. LPL Financial Holdings Inc has a one year low of $34.01 and a one year high of $55.39. The company has a market cap of $4,933.40, a PE ratio of 21.97, a P/E/G ratio of 1.82 and a beta of 1.88.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the company posted $0.58 earnings per share. LPL Financial’s revenue was up 4.6% compared to the same quarter last year. research analysts anticipate that LPL Financial Holdings Inc will post 2.31 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Thursday, November 9th were paid a $0.25 dividend. The ex-dividend date was Wednesday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. LPL Financial’s dividend payout ratio (DPR) is presently 42.55%.

In related news, CEO Dan H. Arnold sold 3,742 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total value of $181,636.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Several equities analysts have commented on LPLA shares. Zacks Investment Research downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Citigroup upped their price objective on shares of LPL Financial from $60.50 to $65.00 and gave the company a “buy” rating in a report on Monday, October 30th. ValuEngine downgraded shares of LPL Financial from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Nomura upped their price objective on shares of LPL Financial from $64.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Finally, J P Morgan Chase & Co upped their price objective on shares of LPL Financial from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $54.55.

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About LPL Financial

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.

Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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