TrinityPoint Wealth LLC Buys 648 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

TrinityPoint Wealth LLC boosted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 13.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,605 shares of the financial services provider’s stock after acquiring an additional 648 shares during the quarter. TrinityPoint Wealth LLC’s holdings in LPL Financial were worth $1,304,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LPLA. Bridges Investment Management Inc. raised its holdings in LPL Financial by 3.2% during the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 37 shares during the last quarter. MFA Wealth Advisors LLC raised its holdings in LPL Financial by 3.9% in the third quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 43 shares during the period. Metis Global Partners LLC raised its stake in LPL Financial by 5.1% during the 3rd quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after buying an additional 46 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of LPL Financial by 2.3% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,218 shares of the financial services provider’s stock valued at $516,000 after purchasing an additional 49 shares in the last quarter. Finally, Stephens Inc. AR boosted its stake in LPL Financial by 5.2% in the 3rd quarter. Stephens Inc. AR now owns 1,054 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 52 shares during the period. 95.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Jefferies Financial Group dropped their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. JMP Securities reissued a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research note on Wednesday, October 9th. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. Finally, UBS Group lifted their price objective on shares of LPL Financial from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Stock Performance

Shares of LPLA stock opened at $314.02 on Monday. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $322.03. The company has a market capitalization of $23.51 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.54 and a beta of 0.85. The company has a 50-day simple moving average of $252.22 and a 200 day simple moving average of $251.23. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.74 earnings per share. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 0.38%. The ex-dividend date is Thursday, November 14th. LPL Financial’s 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.