Poplar Forest Capital LLC Takes Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Poplar Forest Capital LLC acquired a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 33,311 shares of the financial services provider’s stock, valued at approximately $7,749,000. LPL Financial makes up approximately 1.1% of Poplar Forest Capital LLC’s holdings, making the stock its 28th largest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in LPLA. Ashton Thomas Private Wealth LLC purchased a new stake in shares of LPL Financial during the 2nd quarter valued at $25,000. Key Financial Inc purchased a new position in LPL Financial in the 2nd quarter worth $28,000. Paladin Wealth LLC purchased a new position in LPL Financial in the 3rd quarter worth $34,000. Crewe Advisors LLC raised its position in LPL Financial by 360.7% in the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 101 shares during the period. Finally, Tortoise Investment Management LLC raised its position in LPL Financial by 74.7% in the 2nd quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Up 11.7 %

Shares of NASDAQ LPLA opened at $308.16 on Thursday. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $309.00. The stock has a market cap of $23.04 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 1.34 and a beta of 0.85. The firm has a 50-day moving average of $239.07 and a 200 day moving average of $249.06. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last issued its 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 business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. 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 company earned $3.74 earnings per share. As a group, sell-side analysts expect that LPL Financial Holdings Inc. will post 16.03 EPS for the current fiscal year.

LPL Financial Dividend Announcement

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 issued a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.39%. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

Wall Street Analyst Weigh In

LPLA has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target on the stock in a report on Tuesday, July 30th. UBS Group raised their price target on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. The Goldman Sachs Group raised their price target on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $286.92.

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.