Thrivent Financial for Lutherans Raises Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Thrivent Financial for Lutherans increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3,600.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,318 shares of the financial services provider’s stock after acquiring an additional 52,850 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.07% of LPL Financial worth $15,171,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial in the second quarter worth about $25,000. Key Financial Inc acquired a new position in shares of LPL Financial in the second quarter worth about $28,000. Riverview Trust Co acquired a new position in shares of LPL Financial in the first quarter worth about $30,000. Crewe Advisors LLC lifted its stake in shares of LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 101 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its stake 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 worth $37,000 after acquiring an additional 56 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Up 0.5 %

Shares of LPL Financial stock opened at $222.00 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. The business’s 50 day simple moving average is $215.04 and its 200-day simple moving average is $251.06. The stock has a market capitalization of $16.59 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.20 and a beta of 0.88. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $289.88.

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

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, August 9th. LPL Financial’s dividend payout ratio (DPR) is 9.06%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wells Fargo & Company assumed coverage on LPL Financial in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 price target on the stock. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. JMP Securities upped their price objective on LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods cut their price objective on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective on the stock in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $275.27.

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.