Caisse DE Depot ET Placement DU Quebec Invests $14.45 Million in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Caisse DE Depot ET Placement DU Quebec bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 62,104 shares of the financial services provider’s stock, valued at approximately $14,447,000.

Several other large investors have also made changes to their positions in the company. Southpoint Capital Advisors LP grew its holdings in shares of LPL Financial by 50.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 750,000 shares of the financial services provider’s stock worth $174,472,000 after purchasing an additional 250,000 shares during the last quarter. Captrust Financial Advisors grew its holdings in LPL Financial by 1,174.1% during the 3rd quarter. Captrust Financial Advisors now owns 197,584 shares of the financial services provider’s stock worth $45,964,000 after acquiring an additional 182,076 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in LPL Financial during the 3rd quarter worth about $2,633,000. Vinva Investment Management Ltd grew its holdings in LPL Financial by 14.1% during the 3rd quarter. Vinva Investment Management Ltd now owns 3,178 shares of the financial services provider’s stock worth $734,000 after acquiring an additional 393 shares during the last quarter. Finally, Tybourne Capital Management HK Ltd. bought a new stake in LPL Financial during the 3rd quarter worth about $40,175,000. Institutional investors own 95.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on LPLA. Barclays increased their price objective on shares of LPL Financial from $273.00 to $311.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Citigroup increased their price objective on shares of LPL Financial from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. JMP Securities reissued a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th. Finally, Jefferies Financial Group reduced their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.83.

LPL Financial Stock Performance

Shares of NASDAQ:LPLA opened at $325.15 on Monday. The company has a market capitalization of $24.35 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.59 and a beta of 0.85. The firm’s 50 day simple moving average is $274.56 and its 200 day simple moving average is $255.03. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $330.72.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $3.74 EPS. As a group, sell-side analysts forecast that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Dividend Announcement

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