King Luther Capital Management Corp Purchases 56 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

King Luther Capital Management Corp boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,860 shares of the financial services provider’s stock after purchasing an additional 56 shares during the period. King Luther Capital Management Corp’s holdings in LPL Financial were worth $1,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its position in shares of LPL Financial by 38.8% during the first quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider’s stock valued at $11,057,000 after acquiring an additional 11,703 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of LPL Financial by 533.8% during the 1st quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock worth $1,359,000 after purchasing an additional 4,340 shares during the period. Swedbank AB purchased a new position in shares of LPL Financial in the 1st quarter worth about $3,648,000. Sei Investments Co. boosted its holdings in shares of LPL Financial by 23.4% in the 1st quarter. Sei Investments Co. now owns 113,254 shares of the financial services provider’s stock worth $29,923,000 after buying an additional 21,481 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in LPL Financial by 5.4% during the second quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock worth $110,070,000 after buying an additional 20,123 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 2.4 %

Shares of NASDAQ:LPLA opened at $215.52 on Friday. The firm has a fifty day moving average price of $216.25 and a two-hundred day moving average price of $251.80. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.20 and a beta of 0.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $289.88.

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

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 9th. LPL Financial’s dividend payout ratio is currently 9.06%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company began coverage on shares of LPL Financial in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 target price on the stock. TD Cowen upped their price objective on LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Barclays decreased their target price on LPL Financial from $313.00 to $273.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. JMP Securities upped their price target on LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a research report on Friday, July 26th. Finally, UBS Group decreased their price objective on LPL Financial from $290.00 to $215.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $275.27.

About LPL Financial

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.