Kentucky Retirement Systems Takes Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Kentucky Retirement Systems bought a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,082 shares of the financial services provider's stock, valued at approximately $1,663,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Anchor Investment Management LLC increased its position in LPL Financial by 0.3% in the fourth quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock worth $3,166,000 after buying an additional 28 shares in the last quarter. Colonial Trust Co SC lifted its holdings in LPL Financial by 6.1% during the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock valued at $165,000 after purchasing an additional 29 shares in the last quarter. United Capital Financial Advisors LLC increased its stake in shares of LPL Financial by 2.6% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $393,000 after purchasing an additional 31 shares in the last quarter. Tyler Stone Wealth Management raised its position in shares of LPL Financial by 3.7% during the 4th quarter. Tyler Stone Wealth Management now owns 1,076 shares of the financial services provider's stock valued at $351,000 after purchasing an additional 38 shares during the period. Finally, Mariner LLC lifted its stake in shares of LPL Financial by 0.3% during the 4th quarter. Mariner LLC now owns 12,611 shares of the financial services provider's stock valued at $4,117,000 after buying an additional 39 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Trading Down 5.4%

LPL Financial stock traded down $20.26 during midday trading on Tuesday, hitting $354.10. 1,926,752 shares of the stock were exchanged, compared to its average volume of 840,556. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $28.32 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.04 and a beta of 0.66. The stock's 50-day simple moving average is $357.42 and its 200 day simple moving average is $345.67. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.61. The company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.83 earnings per share. On average, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 0.34%. LPL Financial's dividend payout ratio (DPR) is presently 8.30%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Morgan Stanley raised their price objective on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. JMP Securities boosted their target price on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. Wells Fargo & Company reduced their price objective on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and raised their target price for the company from $420.00 to $460.00 in a report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, LPL Financial presently has an average rating of "Moderate Buy" and a consensus price target of $387.69.

LPL Financial Company 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.