WBI Investments Inc. Purchases New Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA)

WBI Investments Inc. acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,567 shares of the financial services provider’s stock, valued at approximately $3,224,000.

Several other hedge funds have also bought and sold shares of LPLA. First Manhattan Co. bought a new stake in LPL Financial during the fourth quarter valued at approximately $27,000. Smithfield Trust Co lifted its position in LPL Financial by 164.4% during the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 74 shares during the last quarter. Quarry LP lifted its position in LPL Financial by 220.4% during the second quarter. Quarry LP now owns 173 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 119 shares during the last quarter. Fred Alger Management LLC bought a new stake in LPL Financial during the third quarter valued at approximately $44,000. Finally, First Capital Advisors Group LLC. bought a new stake in LPL Financial during the second quarter valued at approximately $49,000. 92.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LPLA. Redburn Atlantic began coverage on shares of LPL Financial in a report on Friday, December 1st. They issued a “neutral” rating and a $240.00 price objective for the company. Barclays lowered their price objective on shares of LPL Financial from $277.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, October 30th. TD Cowen began coverage on shares of LPL Financial in a report on Thursday, January 4th. They issued a “market perform” rating and a $224.00 price objective for the company. UBS Group boosted their price objective on shares of LPL Financial from $245.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. Finally, Morgan Stanley lowered their price objective on shares of LPL Financial from $260.00 to $252.00 and set an “equal weight” rating for the company in a report on Monday, October 30th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $251.45.

Read Our Latest Research Report on LPLA

LPL Financial Stock Up 1.8 %

NASDAQ:LPLA opened at $248.13 on Monday. The firm’s 50-day moving average price is $231.87 and its 200-day moving average price is $230.88. The company has a market capitalization of $18.76 billion, a PE ratio of 18.18, a P/E/G ratio of 0.72 and a beta of 0.83. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.87 and a quick ratio of 1.87. LPL Financial Holdings Inc. has a 1-year low of $179.00 and a 1-year high of $259.27.

LPL Financial (NASDAQ:LPLAGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.33 by $0.18. LPL Financial had a net margin of 10.61% and a return on equity of 57.30%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the firm posted $4.21 EPS. LPL Financial’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts predict that LPL Financial Holdings Inc. will post 15.96 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 11th. LPL Financial’s dividend payout ratio (DPR) is 8.79%.

About LPL Financial

(Free Report)

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, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.

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

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