Swedbank AB Raises Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Swedbank AB raised its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 19.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,429 shares of the financial services provider’s stock after buying an additional 2,720 shares during the period. Swedbank AB’s holdings in LPL Financial were worth $3,822,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LPLA. Ashton Thomas Private Wealth LLC purchased a new position in LPL Financial in the 2nd quarter valued at approximately $25,000. Key Financial Inc purchased a new position in LPL Financial in the 2nd quarter valued at approximately $28,000. Ashton Thomas Securities LLC purchased a new position in LPL Financial in the 3rd quarter valued at approximately $31,000. Paladin Wealth LLC purchased a new position in LPL Financial in the 3rd quarter valued at approximately $34,000. Finally, Crewe Advisors LLC boosted 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 valued at $36,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Down 0.5 %

NASDAQ LPLA opened at $325.72 on Thursday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market cap of $24.39 billion, a PE ratio of 24.49, a P/E/G ratio of 1.59 and a beta of 0.85. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $330.72. The firm’s fifty day moving average is $267.99 and its two-hundred day moving average is $253.81.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion for 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%. LPL Financial’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.74 earnings per share. Analysts expect that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.37%. LPL Financial’s dividend payout ratio is presently 9.02%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LPLA shares. Barclays raised their price target on shares of LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Morgan Stanley lifted their price objective 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. TD Cowen lifted their price objective on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, UBS Group lifted their price objective 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.