TT International Asset Management LTD Purchases New Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

TT International Asset Management LTD purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,266 shares of the financial services provider’s stock, valued at approximately $2,620,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of LPL Financial by 24.4% in the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after acquiring an additional 650,675 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of LPL Financial by 9.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after acquiring an additional 233,242 shares during the period. Geode Capital Management LLC boosted its holdings in shares of LPL Financial by 2.6% in the third quarter. Geode Capital Management LLC now owns 1,436,831 shares of the financial services provider’s stock valued at $333,581,000 after acquiring an additional 36,474 shares during the period. Samlyn Capital LLC boosted its holdings in shares of LPL Financial by 8.0% in the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after acquiring an additional 88,635 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of LPL Financial by 11.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider’s stock valued at $247,077,000 after acquiring an additional 90,020 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Trading Up 1.1 %

NASDAQ:LPLA opened at $324.05 on Wednesday. The stock has a fifty day moving average price of $288.18 and a two-hundred day moving average price of $257.64. The stock has a market capitalization of $24.26 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.60 and a beta of 0.86. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $332.91.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the business posted $3.74 earnings per share. LPL Financial’s revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Thursday, November 14th. LPL Financial’s dividend payout ratio is currently 9.02%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LPLA shares. Barclays increased their price objective on LPL Financial from $311.00 to $378.00 and gave the company an “overweight” rating in a report on Monday. TD Cowen upped their price target on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. The Goldman Sachs Group upped their price target on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group cut their price target on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $296.42.

Insider Activity

In other news, Director Aneri Jambusaria sold 305 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

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.