Vinva Investment Management Ltd Grows Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Vinva Investment Management Ltd increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 14.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,178 shares of the financial services provider’s stock after acquiring an additional 393 shares during the period. Vinva Investment Management Ltd’s holdings in LPL Financial were worth $734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LPLA. FMR LLC grew its holdings in shares of LPL Financial by 24.4% during the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock worth $772,930,000 after purchasing an additional 650,675 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in LPL Financial by 9.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock worth $723,329,000 after buying an additional 233,242 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of LPL Financial by 31.1% during the second quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider’s stock valued at $216,227,000 after acquiring an additional 183,755 shares during the last quarter. Tybourne Capital Management HK Ltd. purchased a new stake in shares of LPL Financial in the 3rd quarter valued at approximately $40,175,000. Finally, American Century Companies Inc. lifted its holdings in shares of LPL Financial by 52.6% in the 2nd quarter. American Century Companies Inc. now owns 477,211 shares of the financial services provider’s stock worth $133,285,000 after acquiring an additional 164,586 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Performance

NASDAQ LPLA opened at $325.15 on Friday. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $330.72. The business’s 50-day moving average price is $274.56 and its 200 day moving average price is $255.12. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $24.35 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.59 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, topping the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. LPL Financial’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.74 earnings per share. On average, research analysts predict that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

LPLA has been the subject of several research analyst reports. TD Cowen raised their price target on LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Jefferies Financial Group dropped their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $235.00 to $285.00 in a research report on Wednesday, October 9th. Citigroup lifted their price objective on shares of LPL Financial from $285.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, UBS Group increased their target price on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, LPL Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.92.

About LPL Financial

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.