TrinityPoint Wealth LLC Buys 648 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

TrinityPoint Wealth LLC boosted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 13.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,605 shares of the financial services provider’s stock after acquiring an additional 648 shares during the period. TrinityPoint Wealth LLC’s holdings in LPL Financial were worth $1,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LPLA. Acadian Asset Management LLC lifted its position in LPL Financial by 533.8% during the first quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock worth $1,359,000 after purchasing an additional 4,340 shares during the period. Edgestream Partners L.P. bought a new stake in shares of LPL Financial during the 1st quarter worth approximately $1,306,000. Cynosure Group LLC acquired a new stake in shares of LPL Financial during the 1st quarter worth approximately $308,000. UniSuper Management Pty Ltd increased its stake in LPL Financial by 83.3% in the first quarter. UniSuper Management Pty Ltd now owns 1,100 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 500 shares during the last quarter. Finally, National Bank of Canada FI raised its position in LPL Financial by 421.7% during the first quarter. National Bank of Canada FI now owns 119,772 shares of the financial services provider’s stock valued at $32,175,000 after purchasing an additional 96,816 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Price Performance

Shares of NASDAQ LPLA opened at $314.02 on Monday. The firm’s 50-day simple moving average is $252.22 and its 200 day simple moving average is $251.23. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $322.03. The stock has a market cap of $23.51 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.54 and a beta of 0.85. 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 (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.74 EPS. As a group, research analysts anticipate that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.38%. LPL Financial’s dividend payout ratio is currently 9.02%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LPLA. Jefferies Financial Group reduced their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Morgan Stanley upped their price objective on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Citigroup raised their target price on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. UBS Group boosted their price target on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group raised their target price on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial 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.