Qsemble Capital Management LP Buys New Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Qsemble Capital Management LP bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,336 shares of the financial services provider’s stock, valued at approximately $932,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial during the 2nd quarter valued at $25,000. Key Financial Inc acquired a new position in shares of LPL Financial during the 2nd quarter valued at $28,000. Riverview Trust Co acquired a new position in shares of LPL Financial during the 1st quarter valued at $30,000. American National Bank acquired a new position in shares of LPL Financial during the 4th quarter valued at $32,000. Finally, Crewe Advisors LLC lifted its holdings in shares of LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $206.98 on Friday. The firm has a market cap of $15.46 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.21 and a beta of 0.88. The firm’s 50-day simple moving average is $224.72 and its 200-day simple moving average is $254.53. The company has a debt-to-equity ratio of 1.77, 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 $289.88.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.94 EPS. Equities analysts forecast that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, August 9th. LPL Financial’s dividend payout ratio is presently 9.06%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LPLA. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a report on Tuesday, July 30th. TD Cowen boosted their price objective on shares of LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Barclays cut their price objective on shares of LPL Financial from $313.00 to $273.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. JMP Securities boosted their price objective on shares of LPL Financial from $305.00 to $310.00 and gave the stock a “market outperform” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of LPL Financial from $261.00 to $268.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $275.27.

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.