Voloridge Investment Management LLC Invests $799,000 in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Voloridge Investment Management LLC purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,446 shares of the financial services provider's stock, valued at approximately $799,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vident Advisory LLC increased its holdings in LPL Financial by 58.0% during the 4th quarter. Vident Advisory LLC now owns 3,526 shares of the financial services provider's stock worth $1,151,000 after acquiring an additional 1,294 shares during the period. Westwood Holdings Group Inc. grew its position in shares of LPL Financial by 20.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 70,276 shares of the financial services provider's stock valued at $22,946,000 after purchasing an additional 11,844 shares in the last quarter. Twinbeech Capital LP grew its position in shares of LPL Financial by 26.2% during the 4th quarter. Twinbeech Capital LP now owns 16,217 shares of the financial services provider's stock valued at $5,295,000 after purchasing an additional 3,365 shares in the last quarter. TrinityPoint Wealth LLC increased its holdings in shares of LPL Financial by 1.5% in the fourth quarter. TrinityPoint Wealth LLC now owns 5,689 shares of the financial services provider's stock worth $1,858,000 after purchasing an additional 84 shares during the period. Finally, Strategic Global Advisors LLC raised its position in shares of LPL Financial by 4.1% in the fourth quarter. Strategic Global Advisors LLC now owns 26,655 shares of the financial services provider's stock worth $8,703,000 after buying an additional 1,054 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Trading Down 0.8%

Shares of LPLA traded down $3.10 during mid-day trading on Friday, reaching $384.45. The company's stock had a trading volume of 1,194,292 shares, compared to its average volume of 839,497. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $390.23. The stock has a market cap of $30.75 billion, a PE ratio of 27.38, a P/E/G ratio of 0.94 and a beta of 0.65. The company's fifty day moving average price is $336.50 and its two-hundred day moving average price is $339.18. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the firm posted $3.83 earnings per share. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, May 30th. LPL Financial's dividend payout ratio is presently 8.30%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wells Fargo & Company reduced their target price on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. JMP Securities lifted their price target on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. UBS Group boosted their price objective on LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Wall Street Zen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Citigroup lowered their target price on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Thirteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $377.50.

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.