Swedbank AB Raises Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Swedbank AB grew its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 19.8% during the 3rd quarter, Holdings Channel reports. The fund owned 16,429 shares of the financial services provider’s stock after buying an additional 2,720 shares during the quarter. Swedbank AB’s holdings in LPL Financial were worth $3,822,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bridges Investment Management Inc. boosted its holdings in shares of LPL Financial by 3.2% in the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 37 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of LPL Financial by 1.8% in the third quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 42 shares in the last quarter. MFA Wealth Advisors LLC boosted its holdings in shares of LPL Financial by 3.9% in the third quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 43 shares in the last quarter. Metis Global Partners LLC boosted its holdings in shares of LPL Financial by 5.1% in the third quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 46 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of LPL Financial by 2.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,218 shares of the financial services provider’s stock valued at $516,000 after acquiring an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $325.72 on Thursday. The firm has a 50 day simple moving average of $267.99 and a 200-day simple moving average of $253.81. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market cap of $24.39 billion, a PE ratio of 24.49, a P/E/G ratio of 1.59 and a beta of 0.85. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $330.72.

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

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Thursday, November 14th. LPL Financial’s dividend payout ratio is presently 9.02%.

Analysts Set New Price Targets

LPLA has been the topic of a number of research analyst reports. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Jefferies Financial Group decreased their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Barclays boosted their price objective on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. UBS Group boosted their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, TD Cowen boosted their price objective on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $286.92.

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.