US Bancorp DE Has $4.72 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

US Bancorp DE reduced its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 4.7% in the 3rd quarter, Holdings Channel reports. The firm owned 20,287 shares of the financial services provider’s stock after selling 991 shares during the period. US Bancorp DE’s holdings in LPL Financial were worth $4,720,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LPLA. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial during the second quarter valued at approximately $25,000. Key Financial Inc acquired a new position in LPL Financial during the second quarter valued at approximately $28,000. Paladin Wealth LLC acquired a new position in LPL Financial during the third quarter valued at approximately $34,000. Crewe Advisors LLC raised its position in LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its position in LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Performance

Shares of LPLA opened at $273.98 on Tuesday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $20.48 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The firm’s fifty day simple moving average is $235.38 and its two-hundred day simple moving average is $248.45. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $291.67.

LPL Financial (NASDAQ:LPLA) last issued its quarterly 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. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.74 earnings per share. As a group, analysts predict that LPL Financial Holdings Inc. will post 15.77 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.44%. LPL Financial’s dividend payout ratio is presently 9.02%.

Analyst Upgrades and Downgrades

LPLA has been the subject of several research analyst reports. Bank of America upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 price target for the company in a report on Tuesday, July 30th. Morgan Stanley upped their price target on shares of LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. JMP Securities reiterated a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. Citigroup upped their price target on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, StockNews.com upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Company 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.