Brooklyn Investment Group Takes $43,000 Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Brooklyn Investment Group bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 184 shares of the financial services provider’s stock, valued at approximately $43,000.

A number of other large investors have also recently made changes to their positions in LPLA. Ashton Thomas Private Wealth LLC purchased a new stake in shares of LPL Financial during the second quarter valued at $25,000. Key Financial Inc purchased a new stake in shares of LPL Financial during the second quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of LPL Financial during the third quarter valued at $31,000. Paladin Wealth LLC purchased a new stake in shares of LPL Financial during the third quarter valued at $34,000. Finally, Crewe Advisors LLC boosted its stake in shares of LPL Financial by 360.7% during the second 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. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Performance

LPLA opened at $325.15 on Friday. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $330.72. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market cap of $24.35 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85. The firm’s 50-day moving average price is $272.36 and its 200-day moving average price is $254.81.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. LPL Financial’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.74 earnings per share. As a group, equities analysts anticipate that LPL Financial Holdings Inc. will post 16.1 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 yield of 0.37%. LPL Financial’s dividend payout ratio is currently 9.02%.

Analyst Ratings Changes

Several research firms recently weighed in on LPLA. UBS Group lifted their price objective on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Morgan Stanley lifted their price objective on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group decreased their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. The Goldman Sachs Group lifted their price objective on LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Barclays lifted their price objective on LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $286.92.

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.