Annex Advisory Services LLC Has $3.63 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Annex Advisory Services LLC increased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 35.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,606 shares of the financial services provider’s stock after acquiring an additional 4,056 shares during the quarter. Annex Advisory Services LLC’s holdings in LPL Financial were worth $3,630,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LPLA. V Square Quantitative Management LLC lifted its holdings in LPL Financial by 65.3% in the fourth quarter. V Square Quantitative Management LLC now owns 863 shares of the financial services provider’s stock valued at $196,000 after buying an additional 341 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of LPL Financial in the 4th quarter valued at $89,000. Vanguard Group Inc. boosted its position in shares of LPL Financial by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock worth $1,625,446,000 after purchasing an additional 48,439 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of LPL Financial during the fourth quarter worth $506,000. Finally, Kapitalo Investimentos Ltda increased its holdings in LPL Financial by 41.6% in the fourth quarter. Kapitalo Investimentos Ltda now owns 524 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 154 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LPLA shares. Wells Fargo & Company upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $235.00 to $285.00 in a report on Wednesday. Keefe, Bruyette & Woods reduced their price objective on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. StockNews.com cut shares of LPL Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. TD Cowen increased their target price on shares of LPL Financial from $243.00 to $255.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, Citigroup decreased their price target on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating for the company in a report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, LPL Financial presently has a consensus rating of “Hold” and a consensus target price of $278.23.

LPL Financial Stock Performance

LPLA opened at $248.09 on Friday. The company has a market capitalization of $18.53 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 1.32 and a beta of 0.88. The business’s 50-day moving average price is $219.60 and its two-hundred day moving average price is $248.52. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $289.88. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, July 25th. The financial services provider reported $3.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the firm earned $3.94 EPS. LPL Financial’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities analysts expect that LPL Financial Holdings Inc. will post 15.79 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, August 9th. LPL Financial’s dividend payout ratio is presently 9.06%.

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.