Diversified Trust Co Makes New $1.45 Million Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Diversified Trust Co bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,212 shares of the financial services provider’s stock, valued at approximately $1,445,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in LPL Financial during the 2nd quarter valued at approximately $25,000. Key Financial Inc bought a new position in shares of LPL Financial during the second quarter valued at $28,000. Riverview Trust Co purchased a new position in shares of LPL Financial in the 1st quarter worth about $30,000. Crewe Advisors LLC grew its position in LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the last quarter. Finally, Tortoise Investment Management LLC increased its stake in LPL Financial by 74.7% during the 2nd 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 in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Jefferies Financial Group reduced their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a report on Friday, October 4th. TD Cowen boosted their price target on LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, JMP Securities increased their price objective 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, LPL Financial presently has an average rating of “Hold” and a consensus price target of $274.38.

LPL Financial Price Performance

NASDAQ LPLA opened at $238.71 on Wednesday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $17.83 billion, a P/E ratio of 18.03, a PEG ratio of 1.27 and a beta of 0.88. The company has a 50-day moving average price of $217.54 and a 200-day moving average price of $248.76. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $289.88.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. The business had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The firm’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.94 earnings per share. Equities research analysts anticipate that LPL Financial Holdings Inc. will post 15.88 earnings per share for the current 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 given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.20 annualized dividend and a yield of 0.50%. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

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.