Reinhart Partners LLC. Grows Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Reinhart Partners LLC. grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 64.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,757 shares of the financial services provider’s stock after purchasing an additional 49,909 shares during the period. Reinhart Partners LLC. owned approximately 0.17% of LPL Financial worth $29,487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LPLA. DGS Capital Management LLC lifted its position in LPL Financial by 2.8% in the 1st quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock worth $429,000 after buying an additional 44 shares during the last quarter. Tortoise Investment Management LLC grew its holdings in shares of LPL Financial by 74.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. King Luther Capital Management Corp raised its position in LPL Financial by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 5,860 shares of the financial services provider’s stock worth $1,637,000 after purchasing an additional 56 shares during the period. Gulf International Bank UK Ltd lifted its stake in LPL Financial by 0.9% in the first quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock worth $1,693,000 after purchasing an additional 60 shares during the last quarter. Finally, LVW Advisors LLC boosted its position in LPL Financial by 1.9% during the first quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock valued at $857,000 after buying an additional 61 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $248.09 on Friday. The stock has a 50 day moving average price of $219.60 and a 200-day moving average price of $248.60. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $289.88. The stock has a market cap of $18.53 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88. 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 (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating the consensus estimate of $3.66 by $0.22. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. LPL Financial’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.94 EPS. Equities analysts expect that LPL Financial Holdings Inc. will post 15.79 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.48%. LPL Financial’s dividend payout ratio is currently 9.06%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LPLA shares. StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. TD Cowen lifted their price objective on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Barclays decreased their target price on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Jefferies Financial Group reduced their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, The Goldman Sachs Group lowered their target price on shares of LPL Financial from $289.00 to $271.00 and set a “buy” rating for the company in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $278.23.

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.