Oppenheimer Asset Management Inc. Increases Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Oppenheimer Asset Management Inc. increased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 419.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,239 shares of the financial services provider’s stock after acquiring an additional 12,304 shares during the period. Oppenheimer Asset Management Inc.’s holdings in LPL Financial were worth $3,545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC grew its holdings in LPL Financial by 9.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after acquiring an additional 233,242 shares during the period. Boston Partners grew its holdings in LPL Financial by 71.9% in the first quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock valued at $466,434,000 after purchasing an additional 738,509 shares during the period. Samlyn Capital LLC grew its holdings in LPL Financial by 8.0% in the second quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock valued at $333,684,000 after purchasing an additional 88,635 shares during the period. Epoch Investment Partners Inc. grew its holdings in LPL Financial by 19.8% in the first quarter. Epoch Investment Partners Inc. now owns 927,369 shares of the financial services provider’s stock valued at $245,011,000 after purchasing an additional 153,072 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in LPL Financial by 11.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider’s stock valued at $247,077,000 after purchasing an additional 90,020 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Stock Performance

Shares of LPL Financial stock opened at $314.02 on Friday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $322.03. The company has a market cap of $23.51 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.54 and a beta of 0.85. 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 business’s 50 day moving average price is $252.22 and its 200 day moving average price is $251.45.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the business earned $3.74 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts predict that LPL Financial Holdings Inc. will post 16.08 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. LPL Financial’s dividend payout ratio is currently 9.02%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. 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. Morgan Stanley lifted their price target on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. TD Cowen lifted their price target on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Citigroup lifted their price target on LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, 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 note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial 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.