Massachusetts Financial Services Co. MA bought a new position in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,017 shares of the financial services provider’s stock, valued at approximately $259,000.
Several other hedge funds have also made changes to their positions in LPLA. Integrated Investment Consultants LLC acquired a new position in LPL Financial in the second quarter valued at about $111,000. First Hawaiian Bank acquired a new position in LPL Financial in the third quarter valued at about $188,000. Calamos Advisors LLC acquired a new position in LPL Financial in the second quarter valued at about $206,000. GAM Holding AG acquired a new stake in shares of LPL Financial during the second quarter worth about $228,000. Finally, Advisors Asset Management Inc. raised its position in shares of LPL Financial by 158.0% during the second quarter. Advisors Asset Management Inc. now owns 10,983 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 6,726 shares during the period. Institutional investors own 92.07% of the company’s stock.
A number of research firms have recently commented on LPLA. ValuEngine lowered LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Zacks Investment Research lowered LPL Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. BidaskClub downgraded LPL Financial from a “sell” rating to a “strong sell” rating in a report on Saturday, September 8th. Goldman Sachs Group began coverage on LPL Financial in a report on Tuesday, November 27th. They set a “conviction-buy” rating for the company. Finally, Wolfe Research began coverage on LPL Financial in a report on Tuesday, September 25th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $77.82.
LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, October 25th. The financial services provider reported $1.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.08. LPL Financial had a return on equity of 41.69% and a net margin of 7.68%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.30 billion. On average, equities research analysts anticipate that LPL Financial Holdings Inc will post 5.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Thursday, November 8th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.54%. LPL Financial’s dividend payout ratio is currently 33.33%.
In related news, insider Michelle Oroschakoff sold 6,000 shares of LPL Financial stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $63.00, for a total transaction of $378,000.00. Following the completion of the sale, the insider now directly owns 19,811 shares of the company’s stock, valued at approximately $1,248,093. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director George Burton White sold 23,893 shares of LPL Financial stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $66.00, for a total value of $1,576,938.00. Following the sale, the director now directly owns 50,582 shares of the company’s stock, valued at $3,338,412. The disclosure for this sale can be found here. Insiders have sold a total of 30,143 shares of company stock valued at $1,971,038 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.
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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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