Allspring Global Investments Holdings LLC Buys Shares of 147,478 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Allspring Global Investments Holdings LLC bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 147,478 shares of the financial services provider's stock, valued at approximately $49,379,000. Allspring Global Investments Holdings LLC owned about 0.19% of LPL Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Anchor Investment Management LLC boosted its holdings in shares of LPL Financial by 0.3% during the 4th quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock worth $3,166,000 after purchasing an additional 28 shares during the last quarter. Colonial Trust Co SC increased its stake in shares of LPL Financial by 6.1% in the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock worth $165,000 after acquiring an additional 29 shares during the last quarter. United Capital Financial Advisors LLC grew its holdings 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 valued at $393,000 after purchasing an additional 31 shares during the period. Tyler Stone Wealth Management grew its holdings in shares of LPL Financial by 3.7% in the fourth 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 increased its position in LPL Financial by 0.3% during the fourth quarter. Mariner LLC now owns 12,611 shares of the financial services provider's stock worth $4,117,000 after purchasing an additional 39 shares during the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Price Performance

NASDAQ LPLA traded down $8.64 during mid-day trading on Tuesday, hitting $366.33. The stock had a trading volume of 165,918 shares, compared to its average volume of 843,647. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.82. The company has a 50 day simple moving average of $363.31 and a 200 day simple moving average of $346.96. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $390.23. The company has a market cap of $29.30 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 1.00 and a beta of 0.66.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its 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 return on equity of 46.34% and a net margin of 8.23%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.83 earnings per share. Equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Friday, May 30th. LPL Financial's payout ratio is 8.30%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LPLA shares. Barclays increased their price target on shares of LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Citigroup cut LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 target price for the company. in a research note on Monday, June 9th. Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $420.00 to $460.00 in a research report on Monday, June 9th. Finally, Wells Fargo & Company decreased their target price on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $387.69.

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.