111 Capital acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,096 shares of the financial services provider's stock, valued at approximately $358,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Graney & King LLC acquired a new position in LPL Financial in the 4th quarter valued at $30,000. Fourth Dimension Wealth LLC acquired a new position in LPL Financial in the 4th quarter valued at $40,000. Itau Unibanco Holding S.A. acquired a new position in LPL Financial in the 4th quarter valued at $42,000. Jones Financial Companies Lllp raised its holdings in LPL Financial by 45.3% in the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 43 shares in the last quarter. Finally, Atala Financial Inc acquired a new position in LPL Financial in the 4th quarter valued at $59,000. 95.66% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
LPLA has been the subject of several analyst reports. Citigroup dropped their price objective on LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley boosted their price target on LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Barclays boosted their price target on LPL Financial from $365.00 to $400.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Wells Fargo & Company lowered their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Wall Street Zen raised LPL Financial from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, LPL Financial has an average rating of "Buy" and an average target price of $377.50.
View Our Latest Research Report on LPL Financial
LPL Financial Price Performance
LPLA stock traded up $2.62 during midday trading on Tuesday, reaching $386.01. 425,186 shares of the stock were exchanged, compared to its average volume of 837,426. The stock has a market capitalization of $30.87 billion, a PE ratio of 27.49, a P/E/G ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $390.23. 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 fifty day moving average price of $338.44 and a 200 day moving average price of $340.16.
LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $4.54 by $0.61. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. LPL Financial's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.83 EPS. As a group, analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.
LPL Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. LPL Financial's dividend payout ratio is currently 8.30%.
LPL Financial Profile
(
Free Report)
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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