Wells Fargo & Company MN increased its stake in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 88.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 342,284 shares of the financial services provider’s stock after acquiring an additional 160,738 shares during the period. Wells Fargo & Company MN owned about 0.38% of LPL Financial worth $17,653,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mckinley Capital Management LLC Delaware acquired a new stake in shares of LPL Financial during the second quarter worth $104,000. Public Employees Retirement Association of Colorado raised its holdings in shares of LPL Financial by 1.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 52 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of LPL Financial by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 211 shares during the period. Comerica Bank acquired a new stake in shares of LPL Financial during the third quarter worth $200,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of LPL Financial during the third quarter worth $227,000. Institutional investors and hedge funds own 90.28% of the company’s stock.

In other news, CEO Dan H. Arnold sold 3,742 shares of LPL Financial stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total value of $181,636.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.00% of the company’s stock.

A number of equities research analysts recently commented on LPLA shares. Zacks Investment Research lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Credit Suisse Group initiated coverage on shares of LPL Financial in a research note on Thursday, November 30th. They issued an “outperform” rating and a $68.00 price target on the stock. Citigroup lifted their price target on shares of LPL Financial from $60.50 to $65.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Nomura lifted their price target on shares of LPL Financial from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Finally, ValuEngine lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $54.55.

Shares of LPL Financial Holdings Inc (LPLA) opened at $55.74 on Wednesday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.48 and a quick ratio of 1.48. LPL Financial Holdings Inc has a 52 week low of $34.45 and a 52 week high of $56.81. The stock has a market cap of $5,046.14, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.87 and a beta of 1.88.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. LPL Financial had a net margin of 5.19% and a return on equity of 26.03%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $0.58 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. equities research analysts anticipate that LPL Financial Holdings Inc will post 2.31 earnings per share for the current fiscal year.

LPL Financial declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 5th that permits the company to repurchase $359.00 million in shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Thursday, November 9th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Wednesday, November 8th. LPL Financial’s dividend payout ratio (DPR) is presently 42.55%.

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About LPL Financial

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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