Markel Group Inc. Has $121.06 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Markel Group Inc. boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 8.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 520,404 shares of the financial services provider’s stock after purchasing an additional 38,613 shares during the period. LPL Financial accounts for approximately 1.1% of Markel Group Inc.’s holdings, making the stock its 28th largest holding. Markel Group Inc.’s holdings in LPL Financial were worth $121,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new stake in shares of LPL Financial during the second quarter worth $25,000. Key Financial Inc acquired a new position in LPL Financial in the 2nd quarter worth $28,000. Paladin Wealth LLC bought a new position in LPL Financial during the 3rd quarter worth about $34,000. Crewe Advisors LLC raised its stake in shares of LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the period. Finally, Tortoise Investment Management LLC lifted its holdings in shares of LPL Financial by 74.7% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Up 2.4 %

Shares of LPLA opened at $312.25 on Friday. The firm’s 50-day simple moving average is $242.47 and its 200 day simple moving average is $249.78. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $23.38 billion, a P/E ratio of 23.48, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $312.50.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the firm posted $3.74 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts forecast that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be given a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.38%. LPL Financial’s payout ratio is presently 9.02%.

Analyst Upgrades and Downgrades

LPLA has been the topic of several recent research reports. Morgan Stanley lifted their price target on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. TD Cowen lifted their target price on LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Jefferies Financial Group reduced their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. JMP Securities reaffirmed a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their target price on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, LPL Financial currently has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial 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.