LPL Financial Holdings Inc (LPLA) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 37.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,850 shares of the financial services provider’s stock after purchasing an additional 16,100 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of LPL Financial worth $3,796,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LPLA. Quantbot Technologies LP grew its holdings in LPL Financial by 109.3% during the 3rd quarter. Quantbot Technologies LP now owns 13,416 shares of the financial services provider’s stock worth $865,000 after acquiring an additional 7,005 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in LPL Financial by 2.2% during the 3rd quarter. Panagora Asset Management Inc. now owns 257,897 shares of the financial services provider’s stock worth $16,637,000 after acquiring an additional 5,429 shares during the last quarter. Schroder Investment Management Group grew its holdings in LPL Financial by 16.2% during the 3rd quarter. Schroder Investment Management Group now owns 14,945 shares of the financial services provider’s stock worth $964,000 after acquiring an additional 2,087 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in LPL Financial by 214.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 196,700 shares of the financial services provider’s stock worth $12,689,000 after acquiring an additional 134,200 shares during the last quarter. Finally, Trexquant Investment LP grew its holdings in LPL Financial by 184.8% during the 3rd quarter. Trexquant Investment LP now owns 18,449 shares of the financial services provider’s stock worth $1,190,000 after acquiring an additional 11,971 shares during the last quarter. Institutional investors and hedge funds own 92.07% of the company’s stock.

NASDAQ:LPLA opened at $64.81 on Tuesday. The company has a debt-to-equity ratio of 2.43, a quick ratio of 1.40 and a current ratio of 1.40. LPL Financial Holdings Inc has a 52 week low of $52.03 and a 52 week high of $73.28. The firm has a market capitalization of $5.56 billion, a PE ratio of 21.60, a PEG ratio of 0.82 and a beta of 1.59.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.08. LPL Financial had a net margin of 7.68% and a return on equity of 41.69%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.30 billion. Equities research analysts forecast that LPL Financial Holdings Inc will post 5.19 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Thursday, November 8th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Wednesday, November 7th. LPL Financial’s dividend payout ratio is currently 33.33%.

In other news, insider Michelle Oroschakoff sold 6,000 shares of the company’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $63.00, for a total value of $378,000.00. Following the sale, the insider now directly owns 19,811 shares of the company’s stock, valued at approximately $1,248,093. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George Burton White sold 23,893 shares of the company’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $66.00, for a total transaction of $1,576,938.00. Following the completion of the sale, the director now directly owns 50,582 shares in the company, valued at $3,338,412. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,143 shares of company stock worth $1,971,038. Insiders own 2.60% of the company’s stock.

A number of equities research analysts have weighed in on the stock. Goldman Sachs Group assumed coverage on shares of LPL Financial in a report on Tuesday, November 27th. They set a “conviction-buy” rating on the stock. Morgan Stanley reduced their target price on shares of LPL Financial from $71.00 to $66.00 and set a “hold” rating on the stock in a report on Wednesday, November 14th. BidaskClub raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. Citigroup boosted their target price on shares of LPL Financial from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, October 30th. Finally, Credit Suisse Group reduced their target price on shares of LPL Financial from $91.00 to $88.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $77.82.

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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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

Featured Article: Asset Allocation

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

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