Centiva Capital LP Acquires New Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Centiva Capital LP acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 10,867 shares of the financial services provider’s stock, valued at approximately $2,528,000.

A number of other large investors have also recently added to or reduced their stakes in the business. FMR LLC grew its stake in LPL Financial by 24.4% in the 3rd quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after acquiring an additional 650,675 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of LPL Financial by 9.9% during the 2nd 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 purchasing an additional 233,242 shares during the last quarter. Samlyn Capital LLC boosted its stake in shares of LPL Financial by 8.0% during the 2nd quarter. Samlyn Capital LLC now owns 1,194,715 shares of the financial services provider’s stock worth $333,684,000 after purchasing an additional 88,635 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of LPL Financial by 11.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 884,630 shares of the financial services provider’s stock worth $247,077,000 after purchasing an additional 90,020 shares during the last quarter. Finally, Darlington Partners Capital Management LP boosted its stake in shares of LPL Financial by 9.5% during the 2nd quarter. Darlington Partners Capital Management LP now owns 783,290 shares of the financial services provider’s stock worth $218,773,000 after purchasing an additional 68,276 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LPLA has been the topic of several analyst reports. UBS Group raised their price target on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Jefferies Financial Group decreased their price target 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. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. Wells Fargo & Company raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $235.00 to $285.00 in a research note on Wednesday, October 9th. Finally, TD Cowen increased their price objective on shares of LPL Financial from $271.00 to $277.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $290.83.

LPL Financial Trading Down 0.4 %

NASDAQ LPLA opened at $323.91 on Tuesday. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $330.72. The company’s 50 day moving average price is $276.62 and its 200 day moving average price is $255.43. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market capitalization of $24.25 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 1.59 and a beta of 0.86.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $4.16 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $3.04 billion. During the same quarter last year, the firm posted $3.74 earnings per share. LPL Financial’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 16.1 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 0.37%. LPL Financial’s payout ratio is 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.