Empowered Funds LLC Acquires 4,702 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Empowered Funds LLC increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 49.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,285 shares of the financial services provider’s stock after purchasing an additional 4,702 shares during the period. Empowered Funds LLC’s holdings in LPL Financial were worth $3,323,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC increased its holdings in shares of LPL Financial by 533.8% during the 1st quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock valued at $1,359,000 after acquiring an additional 4,340 shares during the last quarter. Swedbank AB acquired a new position in LPL Financial during the first quarter valued at approximately $3,648,000. Raymond James & Associates raised its position in shares of LPL Financial by 5.4% in the second quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock valued at $110,070,000 after purchasing an additional 20,123 shares during the period. National Bank of Canada FI lifted its stake in shares of LPL Financial by 421.7% in the first quarter. National Bank of Canada FI now owns 119,772 shares of the financial services provider’s stock worth $32,175,000 after buying an additional 96,816 shares during the last quarter. Finally, Coronation Fund Managers Ltd. boosted its holdings in shares of LPL Financial by 68.2% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 217,451 shares of the financial services provider’s stock worth $50,586,000 after buying an additional 88,196 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Trading Up 0.2 %

Shares of LPLA stock opened at $314.77 on Tuesday. The firm has a fifty day moving average of $252.22 and a 200-day moving average of $251.23. The stock has a market cap of $23.57 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 1.54 and a beta of 0.85. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $322.03. 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 results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.74 earnings per share. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

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

Wall Street Analyst Weigh In

LPLA has been the topic of several recent analyst reports. Barclays lifted their target price on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. Jefferies Financial Group lowered 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. UBS Group upped their price target on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.