First Horizon Advisors Inc. Increases Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

First Horizon Advisors Inc. raised its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 32.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 385 shares of the financial services provider’s stock after purchasing an additional 94 shares during the quarter. First Horizon Advisors Inc.’s holdings in LPL Financial were worth $90,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC purchased a new stake in LPL Financial during the second quarter valued at approximately $25,000. Key Financial Inc purchased a new stake in shares of LPL Financial in the 2nd quarter worth $28,000. Ashton Thomas Securities LLC bought a new position in LPL Financial in the 3rd quarter worth $31,000. Paladin Wealth LLC purchased a new position in LPL Financial during the third quarter valued at $34,000. Finally, Crewe Advisors LLC grew its holdings 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 during the period. Institutional investors own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LPLA. Morgan Stanley raised their price objective on LPL Financial from $303.00 to $309.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted their price target on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $235.00 to $285.00 in a research note on Wednesday, October 9th. Citigroup lifted their target price on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, TD Cowen increased 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.92.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $326.85 on Monday. The firm has a market cap of $24.47 billion, a PE ratio of 24.58, a PEG ratio of 1.58 and a beta of 0.85. The stock has a 50 day moving average of $263.32 and a 200 day moving average of $252.97. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $327.55.

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. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.74 EPS. On average, research analysts expect that LPL Financial Holdings Inc. will post 16.08 EPS for the current fiscal year.

LPL Financial Dividend Announcement

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

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.