Sheaff Brock Investment Advisors LLC Buys 358 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Sheaff Brock Investment Advisors LLC grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,634 shares of the financial services provider’s stock after buying an additional 358 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in LPL Financial were worth $2,009,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC grew its holdings in LPL Financial by 38.8% during the 1st quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider’s stock valued at $11,057,000 after purchasing an additional 11,703 shares during the last quarter. Acadian Asset Management LLC grew its stake in LPL Financial by 533.8% in the 1st quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 4,340 shares in the last quarter. Swedbank AB bought a new position in LPL Financial in the 1st quarter worth about $3,648,000. Raymond James & Associates grew its stake in LPL Financial by 5.4% in the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock worth $110,070,000 after acquiring an additional 20,123 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in LPL Financial by 421.7% in the 1st quarter. National Bank of Canada FI now owns 119,772 shares of the financial services provider’s stock worth $32,175,000 after acquiring an additional 96,816 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the subject of a number of analyst reports. JMP Securities reissued a “market outperform” rating and set a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a report on Tuesday, July 30th. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Citigroup raised their price target on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays raised their price target on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Stock Down 0.1 %

LPLA stock opened at $314.16 on Friday. The company has a fifty day moving average price of $250.17 and a 200 day moving average price of $251.18. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $322.03. The company has a market cap of $23.52 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.47. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $3.74 EPS. Sell-side analysts expect that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Dividend Announcement

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

LPL Financial Company 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.