Tokio Marine Asset Management Co. Ltd. Acquires 49 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,218 shares of the financial services provider’s stock after purchasing an additional 49 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in LPL Financial were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of LPLA. Bridges Investment Management Inc. lifted its position in shares of LPL Financial by 3.2% in the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after buying an additional 37 shares during the last quarter. MFA Wealth Advisors LLC lifted its holdings in LPL Financial by 3.9% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 43 shares during the last quarter. Metis Global Partners LLC boosted its position in LPL Financial by 5.1% during the third quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 46 shares during the period. Stephens Inc. AR grew its holdings in LPL Financial by 5.2% during the third quarter. Stephens Inc. AR now owns 1,054 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 52 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its position in shares of LPL Financial by 74.7% in the second 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 period. Institutional investors and hedge funds own 95.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on LPLA. Jefferies Financial Group decreased their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. Wells Fargo & Company upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $235.00 to $285.00 in a report on Wednesday, October 9th. TD Cowen raised their price objective on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Barclays raised their price target on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $314.02 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a 50-day moving average price of $252.22 and a 200 day moving average price of $251.33. The firm has a market capitalization of $23.51 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $322.03.

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 analysts’ consensus estimates 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 return on equity of 49.47% and a net margin of 8.73%. LPL Financial’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.74 EPS. Research analysts anticipate that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.38%. LPL Financial’s payout ratio is presently 9.02%.

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.