Metis Global Partners LLC Acquires 46 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Metis Global Partners LLC lifted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 945 shares of the financial services provider’s stock after buying an additional 46 shares during the period. Metis Global Partners LLC’s holdings in LPL Financial were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LPLA. Oppenheimer Asset Management Inc. lifted its position in LPL Financial by 419.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 15,239 shares of the financial services provider’s stock worth $3,545,000 after purchasing an additional 12,304 shares during the period. Future Fund LLC lifted its holdings in shares of LPL Financial by 20.9% during the 3rd quarter. Future Fund LLC now owns 5,190 shares of the financial services provider’s stock worth $1,207,000 after acquiring an additional 898 shares during the period. Aigen Investment Management LP acquired a new stake in shares of LPL Financial during the 3rd quarter worth approximately $963,000. Sumitomo Mitsui Trust Group Inc. increased its stake in LPL Financial by 2.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 175,199 shares of the financial services provider’s stock valued at $40,757,000 after acquiring an additional 4,572 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in LPL Financial by 116.9% during the third quarter. GSA Capital Partners LLP now owns 2,978 shares of the financial services provider’s stock valued at $693,000 after purchasing an additional 1,605 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analysts Forecast Growth

LPLA has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Bank of America upgraded LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a research report on Tuesday, July 30th. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Barclays lifted their price target on shares of LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods cut their target price on shares of LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. One equities 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Price Performance

Shares of LPLA opened at $314.53 on Wednesday. The business has a 50-day moving average of $256.42 and a 200-day moving average of $251.86. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market capitalization of $23.55 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $322.03.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the company earned $3.74 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.38%. LPL Financial’s payout ratio is currently 9.02%.

LPL Financial 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.