Cynosure Group LLC Has $401,000 Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Cynosure Group LLC lifted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 28.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,724 shares of the financial services provider’s stock after purchasing an additional 385 shares during the quarter. Cynosure Group LLC’s holdings in LPL Financial were worth $401,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Boston Partners boosted its position in LPL Financial by 71.9% during the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after acquiring an additional 738,509 shares during the last quarter. FMR LLC grew its position in LPL Financial by 24.4% in the third quarter. FMR LLC now owns 3,322,571 shares of the financial services provider’s stock valued at $772,930,000 after purchasing an additional 650,675 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in LPL Financial by 9.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,589,793 shares of the financial services provider’s stock valued at $723,329,000 after buying an additional 233,242 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in LPL Financial by 31.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 774,175 shares of the financial services provider’s stock worth $216,227,000 after buying an additional 183,755 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of LPL Financial by 52.6% during the 2nd quarter. American Century Companies Inc. now owns 477,211 shares of the financial services provider’s stock worth $133,285,000 after buying an additional 164,586 shares during the last quarter. 95.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LPLA has been the topic of several analyst reports. Jefferies Financial Group dropped their target price on LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Barclays increased their price objective on LPL Financial from $273.00 to $311.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley increased their price target on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a research report on Wednesday, October 9th. Finally, Citigroup lifted their target price 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Trading Down 0.5 %

Shares of LPL Financial stock opened at $325.72 on Thursday. The firm’s 50-day moving average price is $267.99 and its two-hundred day moving average price is $253.81. The company has a market capitalization of $24.39 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 1.59 and a beta of 0.85. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $330.72.

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

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid 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 payout ratio is currently 9.02%.

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.