JPMorgan Chase & Co. Raises Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

JPMorgan Chase & Co. raised its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 27.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,275,136 shares of the financial services provider’s stock after purchasing an additional 276,166 shares during the period. JPMorgan Chase & Co. owned 1.70% of LPL Financial worth $296,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in LPLA. Ashton Thomas Private Wealth LLC acquired a new stake in shares of LPL Financial in the 2nd quarter worth $25,000. Tortoise Investment Management LLC boosted its holdings in 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. Ashton Thomas Securities LLC purchased a new stake in shares of LPL Financial during the third quarter worth about $31,000. Paladin Wealth LLC acquired a new position in shares of LPL Financial during the third quarter valued at about $34,000. Finally, Brooklyn Investment Group acquired a new position in shares of LPL Financial during the third quarter valued at about $43,000. 95.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup boosted their target price on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays upped their target price on LPL Financial from $311.00 to $378.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group lifted their price target on LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JMP Securities reissued a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th. Finally, Jefferies Financial Group decreased 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $322.75.

Insider Activity

In other news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now owns 3,920 shares in the company, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company’s stock.

LPL Financial Stock Performance

Shares of NASDAQ LPLA opened at $331.92 on Monday. The company has a market capitalization of $24.85 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The company’s fifty day moving average price is $310.01 and its 200 day moving average price is $262.07. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $336.40.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the firm posted $3.74 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts predict that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.36%. The ex-dividend date was Thursday, November 14th. LPL Financial’s payout ratio is currently 9.02%.

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.