Intech Investment Management LLC Acquires 66,932 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Intech Investment Management LLC raised its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 267.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,999 shares of the financial services provider’s stock after purchasing an additional 66,932 shares during the quarter. Intech Investment Management LLC owned 0.12% of LPL Financial worth $21,402,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Acadian Asset Management LLC lifted its holdings in shares of LPL Financial by 533.8% in 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 purchased a new position in shares of LPL Financial in the 1st quarter worth approximately $3,648,000. Raymond James & Associates increased its position in shares of LPL Financial by 5.4% during the 2nd 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 last quarter. Coronation Fund Managers Ltd. raised its holdings in 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 valued at $50,586,000 after buying an additional 88,196 shares during the period. Finally, Magnetar Financial LLC bought a new stake in LPL Financial in the first quarter worth $918,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Price Performance

NASDAQ LPLA opened at $317.05 on Thursday. The company has a market cap of $23.74 billion, a PE ratio of 23.84, a P/E/G ratio of 1.54 and a beta of 0.85. 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 Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $322.03. The firm’s 50 day moving average price is $258.57 and its 200-day moving average price is $252.31.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data 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. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the business posted $3.74 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 16.08 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, November 14th. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LPLA shares. Wells Fargo & Company upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $235.00 to $285.00 in a research report on Wednesday, October 9th. StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. The Goldman Sachs Group increased their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays boosted their target price on LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Bank of America upgraded 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, LPL Financial 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.