Quantbot Technologies LP Takes Position in LPL Financial Holdings Inc. (LPLA)
Quantbot Technologies LP purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 25,870 shares of the financial services provider’s stock, valued at approximately $1,334,000.
Other large investors have also recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware purchased a new stake in shares of LPL Financial Holdings during the second quarter valued at approximately $104,000. Public Employees Retirement Association of Colorado boosted its holdings in LPL Financial Holdings by 1.9% in 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 purchasing an additional 52 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in LPL Financial Holdings by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 211 shares during the last quarter. Comerica Bank purchased a new stake in LPL Financial Holdings in the third quarter worth approximately $200,000. Finally, World Asset Management Inc purchased a new stake in LPL Financial Holdings in the third quarter worth approximately $239,000. Hedge funds and other institutional investors own 93.72% of the company’s stock.
Several brokerages recently issued reports on LPLA. SunTrust Banks, Inc. restated a “buy” rating and issued a $65.00 target price on shares of LPL Financial Holdings in a report on Friday, October 27th. Zacks Investment Research upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Thursday, October 26th. ValuEngine cut shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Morgan Stanley raised their target price on shares of LPL Financial Holdings from $39.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, October 5th. Finally, Citigroup Inc. raised their target price on shares of LPL Financial Holdings from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. LPL Financial Holdings presently has an average rating of “Hold” and a consensus target price of $53.20.
Shares of LPL Financial Holdings Inc. (LPLA) opened at $49.30 on Monday. The company has a market cap of $4,446.37, a price-to-earnings ratio of 19.80, a PEG ratio of 1.64 and a beta of 1.89. LPL Financial Holdings Inc. has a 52-week low of $34.01 and a 52-week high of $53.92. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.48 and a current ratio of 1.48.
LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. LPL Financial Holdings had a net margin of 5.19% and a return on equity of 26.03%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. analysts anticipate that LPL Financial Holdings Inc. will post 2.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Thursday, November 9th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.03%. LPL Financial Holdings’s payout ratio is 42.55%.
In other news, CEO Dan H. Arnold sold 3,742 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total transaction of $181,636.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by company insiders.
LPL Financial Holdings Profile
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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