Envestnet Asset Management Inc. Has $91.88 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Envestnet Asset Management Inc. lifted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 328,963 shares of the financial services provider’s stock after buying an additional 1,611 shares during the quarter. Envestnet Asset Management Inc. owned about 0.44% of LPL Financial worth $91,879,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of LPL Financial by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock valued at $1,625,446,000 after buying an additional 48,439 shares during the last quarter. Boston Partners boosted its position in LPL Financial by 71.9% during the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after purchasing an additional 738,509 shares during the period. TD Asset Management Inc increased its holdings in shares of LPL Financial by 33.2% in the first quarter. TD Asset Management Inc now owns 1,103,655 shares of the financial services provider’s stock valued at $291,586,000 after purchasing an additional 275,286 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of LPL Financial by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 970,749 shares of the financial services provider’s stock valued at $256,472,000 after purchasing an additional 23,890 shares during the period. Finally, Epoch Investment Partners Inc. lifted its stake in shares of LPL Financial by 19.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock worth $245,011,000 after buying an additional 153,072 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LPLA. JPMorgan Chase & Co. upped their price target on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. Jefferies Financial Group boosted their price target on LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a research note on Monday, July 8th. TD Cowen increased their price objective on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, JMP Securities boosted their target price on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, LPL Financial presently has an average rating of “Hold” and an average price target of $275.27.

LPL Financial Trading Up 1.1 %

Shares of LPL Financial stock opened at $210.51 on Wednesday. The company has a market capitalization of $15.73 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 1.20 and a beta of 0.88. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $289.88. The firm’s 50-day moving average price is $220.58 and its two-hundred day moving average price is $253.14.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the business posted $3.94 EPS. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, analysts forecast that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.57%. LPL Financial’s dividend payout ratio (DPR) is currently 9.06%.

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.