MFA Wealth Advisors LLC Has $267,000 Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

MFA Wealth Advisors LLC increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,148 shares of the financial services provider’s stock after buying an additional 43 shares during the quarter. MFA Wealth Advisors LLC’s holdings in LPL Financial were worth $267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LPLA. Greenleaf Trust bought a new stake in shares of LPL Financial in the 3rd quarter valued at approximately $2,169,000. Private Advisor Group LLC boosted its stake in LPL Financial by 1.0% in the 3rd quarter. Private Advisor Group LLC now owns 27,098 shares of the financial services provider’s stock valued at $6,304,000 after buying an additional 276 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in LPL Financial by 10.3% in the third quarter. Sequoia Financial Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 88 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in LPL Financial by 4.2% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 12,332 shares of the financial services provider’s stock worth $2,869,000 after acquiring an additional 495 shares in the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of LPL Financial by 4.7% during the third quarter. Whittier Trust Co. now owns 22,784 shares of the financial services provider’s stock valued at $5,300,000 after acquiring an additional 1,026 shares during the period. Institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

LPLA has been the subject of a number of recent analyst reports. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price for the company in a research report on Tuesday, July 30th. Jefferies Financial Group dropped their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. TD Cowen boosted their target price on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods dropped their price target on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, UBS Group boosted their price objective on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $277.77.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $258.00 on Thursday. The stock has a market capitalization of $19.27 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.32 and a beta of 0.88. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $289.88. The business has a 50-day moving average price of $228.72 and a two-hundred day moving average price of $248.15.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the firm posted $3.94 earnings per share. LPL Financial’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities analysts predict that LPL Financial Holdings Inc. will post 15.79 earnings per share for the current year.

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.