Quantinno Capital Management LP Purchases 550 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Quantinno Capital Management LP increased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,394 shares of the financial services provider’s stock after buying an additional 550 shares during the period. Quantinno Capital Management LP’s holdings in LPL Financial were worth $3,349,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Daiwa Securities Group Inc. lifted its holdings in shares of LPL Financial by 50.6% in the third quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider’s stock worth $3,685,000 after buying an additional 5,320 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in LPL Financial during the third quarter valued at $2,633,000. Raymond James & Associates increased its holdings 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 valued at $110,070,000 after acquiring an additional 20,123 shares during the last quarter. Coronation Fund Managers Ltd. lifted its stake in LPL Financial by 68.2% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider’s stock worth $50,586,000 after purchasing an additional 88,196 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of LPL Financial by 882.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 85,914 shares of the financial services provider’s stock valued at $23,996,000 after purchasing an additional 77,169 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

LPL Financial stock opened at $320.50 on Tuesday. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $332.91. The company’s 50-day moving average is $286.29 and its 200 day moving average is $257.36. The firm has a market capitalization of $24.00 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86. 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 issued 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 firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the business posted $3.74 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts forecast that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.37%. LPL Financial’s dividend payout ratio (DPR) is 9.02%.

Insider Activity

In related news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LPLA. UBS Group lifted their target price on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. JMP Securities reiterated a “market outperform” rating and set a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. Jefferies Financial Group reduced their price target on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. TD Cowen upped their price target on shares of LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $296.42.

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.