Westfield Capital Management Co. LP Raises Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Westfield Capital Management Co. LP lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 21.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 710,867 shares of the financial services provider’s stock after acquiring an additional 126,266 shares during the period. LPL Financial makes up approximately 0.7% of Westfield Capital Management Co. LP’s investment portfolio, making the stock its 29th largest holding. Westfield Capital Management Co. LP owned 0.95% of LPL Financial worth $165,369,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LPLA. UniSuper Management Pty Ltd grew its stake in shares of LPL Financial by 83.3% during the first quarter. UniSuper Management Pty Ltd now owns 1,100 shares of the financial services provider’s stock worth $291,000 after acquiring an additional 500 shares during the last quarter. Axxcess Wealth Management LLC boosted its position in LPL Financial by 52.3% in the first quarter. Axxcess Wealth Management LLC now owns 2,217 shares of the financial services provider’s stock valued at $586,000 after buying an additional 761 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in LPL Financial in the first quarter valued at approximately $1,619,000. Lazard Asset Management LLC boosted its position in LPL Financial by 1,640.7% in the first quarter. Lazard Asset Management LLC now owns 940 shares of the financial services provider’s stock valued at $247,000 after buying an additional 886 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new stake in LPL Financial in the first quarter valued at approximately $461,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Up 1.1 %

Shares of LPLA stock opened at $326.85 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market cap of $24.47 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.58 and a beta of 0.85. The stock has a 50 day simple moving average of $263.32 and a 200-day simple moving average of $253.18. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $327.55.

LPL Financial (NASDAQ:LPLA) last announced its 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. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.74 EPS. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 16.08 EPS for the current fiscal year.

LPL Financial Announces Dividend

The company 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. This represents a $1.20 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s dividend payout ratio is currently 9.02%.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. Citigroup upped their target price on LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Jefferies Financial Group dropped their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company raised LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $235.00 to $285.00 in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, LPL Financial presently has a consensus rating of “Moderate Buy” and an average target price of $286.92.

About LPL Financial

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.