Geode Capital Management LLC Acquires 36,474 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Geode Capital Management LLC raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,436,831 shares of the financial services provider’s stock after buying an additional 36,474 shares during the quarter. Geode Capital Management LLC’s holdings in LPL Financial were worth $333,581,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LPLA. Bridges Investment Management Inc. raised its holdings in shares of LPL Financial by 3.2% during the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 37 shares during the period. Avior Wealth Management LLC raised its stake in shares of LPL Financial by 1.8% in the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 42 shares during the period. MFA Wealth Advisors LLC lifted its holdings in shares of LPL Financial by 3.9% in the third quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 43 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in LPL Financial by 1.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider’s stock valued at $956,000 after buying an additional 44 shares during the last quarter. Finally, Metis Global Partners LLC lifted its stake in LPL Financial by 5.1% in the 3rd quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 46 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Insider Buying and Selling

In other LPL Financial news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the transaction, the director now owns 3,920 shares in the company, valued at $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

LPL Financial Stock Performance

NASDAQ LPLA opened at $330.23 on Friday. The stock has a market cap of $24.73 billion, a PE ratio of 24.83, a P/E/G ratio of 1.61 and a beta of 0.86. 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 50-day moving average of $293.80 and a 200-day moving average of $258.97. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $334.38.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating the consensus estimate of $3.69 by $0.47. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.74 earnings per share. On average, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.36%. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

Analyst Ratings Changes

Several brokerages have recently weighed in on LPLA. JMP Securities reaffirmed a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a research note on Wednesday, October 9th. Citigroup lifted their price target on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Morgan Stanley raised their price objective on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their target price on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, UBS Group raised their price target on LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.17.

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.