Riverhead Capital Management LLC Raises Holdings in LPL Financial Holdings Inc (LPLA)

Riverhead Capital Management LLC grew its holdings in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) by 36.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,650 shares of the financial services provider’s stock after purchasing an additional 13,600 shares during the period. Riverhead Capital Management LLC’s holdings in LPL Financial were worth $3,267,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of LPLA. American Century Companies Inc. acquired a new stake in shares of LPL Financial during the third quarter worth $47,906,000. FMR LLC raised its holdings in shares of LPL Financial by 35.4% during the third quarter. FMR LLC now owns 1,971,605 shares of the financial services provider’s stock worth $127,189,000 after purchasing an additional 515,091 shares during the period. Renaissance Technologies LLC raised its holdings in shares of LPL Financial by 58.6% during the second quarter. Renaissance Technologies LLC now owns 1,219,400 shares of the financial services provider’s stock worth $79,919,000 after purchasing an additional 450,500 shares during the period. Soros Fund Management LLC raised its holdings in shares of LPL Financial by 106.6% during the second quarter. Soros Fund Management LLC now owns 571,971 shares of the financial services provider’s stock worth $37,487,000 after purchasing an additional 295,171 shares during the period. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of LPL Financial by 12.4% during the third quarter. Frontier Capital Management Co. LLC now owns 2,524,046 shares of the financial services provider’s stock worth $162,826,000 after purchasing an additional 277,854 shares during the period. 92.07% of the stock is currently owned by institutional investors.

Shares of NASDAQ LPLA opened at $60.16 on Friday. The company has a debt-to-equity ratio of 2.43, a current ratio of 1.40 and a quick ratio of 1.40. LPL Financial Holdings Inc has a twelve month low of $52.03 and a twelve month high of $73.28. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 0.80 and a beta of 1.59.

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

The company also recently announced a quarterly dividend, which was paid on Monday, November 26th. Investors of record on Thursday, November 8th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, November 7th. This represents a $1.00 annualized dividend and a yield of 1.66%. LPL Financial’s dividend payout ratio (DPR) is currently 33.33%.

Several equities analysts have recently commented on the stock. BidaskClub upgraded shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Thursday, November 8th. ValuEngine lowered shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Zacks Investment Research upgraded shares of LPL Financial from a “hold” rating to a “strong-buy” rating and set a $74.00 target price for the company in a research report on Wednesday, September 12th. Credit Suisse Group decreased their target price on shares of LPL Financial from $91.00 to $88.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Finally, Goldman Sachs Group assumed coverage on shares of LPL Financial in a research report on Tuesday, November 27th. They issued a “conviction-buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $77.82.

In other news, insider Michelle Oroschakoff sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $63.00, for a total value of $378,000.00. Following the completion of the sale, the insider now directly owns 19,811 shares in the company, valued at $1,248,093. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director George Burton White sold 23,893 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $66.00, for a total value of $1,576,938.00. Following the completion of the sale, the director now owns 50,582 shares of the company’s stock, 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 valued at $1,971,038. 2.60% of the stock is owned by company insiders.

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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.

See Also: Balanced Fund

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

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