Mount Yale Investment Advisors LLC Increases Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Mount Yale Investment Advisors LLC lifted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 39.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,721 shares of the financial services provider’s stock after buying an additional 769 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in LPL Financial were worth $633,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LPLA. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of LPL Financial by 3.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,675 shares of the financial services provider’s stock valued at $2,292,000 after purchasing an additional 313 shares during the last quarter. LVW Advisors LLC increased its stake in LPL Financial by 1.9% in the 1st quarter. LVW Advisors LLC now owns 3,245 shares of the financial services provider’s stock worth $857,000 after acquiring an additional 61 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of LPL Financial during the 1st quarter worth approximately $506,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of LPL Financial during the 1st quarter valued at approximately $1,824,000. Finally, Monument Capital Management grew its holdings in shares of LPL Financial by 6.9% in the first quarter. Monument Capital Management now owns 9,154 shares of the financial services provider’s stock valued at $2,418,000 after purchasing an additional 589 shares in the last quarter. Institutional investors own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LPLA. Keefe, Bruyette & Woods lowered their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. StockNews.com downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Citigroup reduced their price objective on LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Morgan Stanley raised their price objective on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price objective for the company in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $277.77.

LPL Financial Price Performance

LPLA opened at $260.93 on Friday. The company has a market capitalization of $19.51 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.38 and a beta of 0.88. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $289.88. The business’s fifty day simple moving average is $230.38 and its 200-day simple moving average is $248.17.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the business earned $3.94 EPS. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. On average, equities research analysts anticipate that LPL Financial Holdings Inc. will post 15.71 earnings per share for the current fiscal year.

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.