Commerce Bank trimmed its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 88.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,545 shares of the financial services provider's stock after selling 155,726 shares during the quarter. Commerce Bank's holdings in LPL Financial were worth $4,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial during the second quarter valued at about $25,000. Key Financial Inc bought a new stake in LPL Financial in the 2nd quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new position in LPL Financial during the 3rd quarter worth approximately $31,000. Paladin Wealth LLC bought a new position in LPL Financial in the third quarter worth approximately $34,000. Finally, Crewe Advisors LLC grew its stake in LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 101 shares during the period. Institutional investors own 95.66% of the company's stock.
Shares of NASDAQ:LPLA opened at $326.85 on Friday. The company has a market capitalization of $24.47 billion, a PE ratio of 24.58, 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 $327.55. 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 business has a fifty day moving average price of $260.89 and a two-hundred day moving average price of $252.81.
LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $3.11 billion during 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%. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.74 earnings per share. Analysts forecast that LPL Financial Holdings Inc. will post 16.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 annualized dividend and a yield of 0.37%. LPL Financial's payout ratio is 9.02%.
LPLA has been the topic of a number of research reports. UBS Group increased their target price on LPL Financial from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Tuesday, October 8th. Wells Fargo & Company raised shares of LPL Financial from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $235.00 to $285.00 in a research note on Wednesday, October 9th. Citigroup lifted their price objective on shares of LPL Financial from $285.00 to $310.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Barclays raised their price target on shares of LPL Financial from $273.00 to $311.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group cut their price target on LPL Financial from $309.00 to $282.00 and set a "buy" rating for the company in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, LPL Financial has an average rating of "Moderate Buy" and an average target price of $286.92.
Get Our Latest Stock Report on 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.
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