Mount Yale Investment Advisors LLC Raises Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mount Yale Investment Advisors LLC boosted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 11.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,952 shares of the financial services provider’s stock after purchasing an additional 206 shares during the period. Mount Yale Investment Advisors LLC’s holdings in LPL Financial were worth $545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DGS Capital Management LLC increased its stake in shares of LPL Financial by 2.8% in the first quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock worth $429,000 after buying an additional 44 shares during the period. Oliver Luxxe Assets LLC increased its position in shares of LPL Financial by 0.6% in the fourth quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock valued at $1,856,000 after acquiring an additional 48 shares during the period. Tortoise Investment Management LLC raised its stake in shares of LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 56 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in shares of LPL Financial by 1.0% during the second quarter. King Luther Capital Management Corp now owns 5,860 shares of the financial services provider’s stock worth $1,637,000 after purchasing an additional 56 shares during the period. Finally, Gulf International Bank UK Ltd boosted its holdings in shares of LPL Financial by 0.9% during the first quarter. Gulf International Bank UK Ltd now owns 6,410 shares of the financial services provider’s stock worth $1,693,000 after purchasing an additional 60 shares during the period. Institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on LPLA. 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. Keefe, Bruyette & Woods decreased their target price on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, July 26th. UBS Group dropped their price target on LPL Financial from $290.00 to $215.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company initiated coverage on shares of LPL Financial in a research report on Thursday, September 12th. They set an “equal weight” rating and a $235.00 price objective on the stock. Finally, TD Cowen upped their price objective on shares of LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, LPL Financial currently has an average rating of “Hold” and a consensus target price of $275.27.

LPL Financial Trading Up 2.5 %

LPL Financial stock opened at $220.82 on Tuesday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $289.88. The business’s fifty day moving average is $215.39 and its 200 day moving average is $251.35. The stock has a market capitalization of $16.50 billion, a PE ratio of 16.68, a price-to-earnings-growth 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 (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm posted $3.94 EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 15.9 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Friday, August 9th. 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.