Western Standard LLC Takes $557,000 Position in LPL Financial Holdings Inc. (LPLA)

Western Standard LLC purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,800 shares of the financial services provider’s stock, valued at approximately $557,000.

Several other hedge funds and other institutional investors also recently modified their holdings of LPLA. Mckinley Capital Management LLC Delaware purchased a new position in LPL Financial in the second quarter worth $104,000. Public Employees Retirement Association of Colorado raised its position in LPL Financial by 1.9% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 52 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in LPL Financial by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 211 shares in the last quarter. Comerica Bank purchased a new position in LPL Financial in the third quarter worth $200,000. Finally, Virginia Retirement Systems ET AL purchased a new position in LPL Financial in the third quarter worth $227,000. 90.33% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Dan H. Arnold sold 3,742 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total value of $181,636.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.00% of the company’s stock.

Several research firms have issued reports on LPLA. SunTrust Banks upgraded LPL Financial from a “hold” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $55.00 in a research report on Wednesday, August 16th. Credit Suisse Group began coverage on LPL Financial in a research report on Thursday, November 30th. They issued an “outperform” rating and a $68.00 price objective for the company. Nomura increased their price objective on LPL Financial from $53.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Morgan Stanley increased their price objective on LPL Financial from $39.00 to $42.00 and gave the stock an “underweight” rating in a research report on Thursday, October 5th. Finally, Zacks Investment Research upgraded LPL Financial from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.55.

LPL Financial Holdings Inc. (NASDAQ LPLA) opened at $53.90 on Wednesday. LPL Financial Holdings Inc. has a 52-week low of $34.01 and a 52-week high of $55.39. The firm has a market capitalization of $4,774.67, a price-to-earnings ratio of 21.26, a PEG ratio of 1.77 and a beta of 1.88. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.48 and a quick ratio of 1.48.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. LPL Financial had a return on equity of 26.03% and a net margin of 5.19%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business posted $0.58 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. sell-side analysts forecast that LPL Financial Holdings Inc. will post 2.31 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Thursday, November 9th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, November 8th. LPL Financial’s dividend payout ratio is currently 42.55%.

TRADEMARK VIOLATION WARNING: This piece was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://www.com-unik.info/2017/12/06/western-standard-llc-takes-557000-position-in-lpl-financial-holdings-inc-lpla.html.

LPL Financial Company Profile

LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.

Want to see what other hedge funds are holding LPLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LPL Financial Holdings Inc. (NASDAQ:LPLA).

Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

What are top analysts saying about LPL Financial Holdings Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for LPL Financial Holdings Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit