Artemis Investment Management LLP Raises Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Artemis Investment Management LLP grew its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 38.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 114,780 shares of the financial services provider's stock after acquiring an additional 32,044 shares during the quarter. Artemis Investment Management LLP owned 0.14% of LPL Financial worth $37,549,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its stake in LPL Financial by 12.2% in the fourth quarter. First Horizon Advisors Inc. now owns 432 shares of the financial services provider's stock worth $141,000 after purchasing an additional 47 shares during the last quarter. Amalgamated Bank increased its holdings in shares of LPL Financial by 1.2% in the fourth quarter. Amalgamated Bank now owns 5,662 shares of the financial services provider's stock worth $1,849,000 after buying an additional 69 shares during the period. National Pension Service increased its holdings in shares of LPL Financial by 1.7% in the fourth quarter. National Pension Service now owns 119,724 shares of the financial services provider's stock worth $39,091,000 after buying an additional 2,000 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of LPL Financial in the 4th quarter valued at about $167,000. Finally, Mn Services Vermogensbeheer B.V. boosted its holdings in LPL Financial by 2.4% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 29,800 shares of the financial services provider's stock valued at $9,730,000 after acquiring an additional 700 shares during the period. 95.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on LPLA. Wells Fargo & Company decreased their price target 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. Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and raised their target price for the stock from $420.00 to $460.00 in a report on Monday, June 9th. Wall Street Zen lowered shares of LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Morgan Stanley increased their price target on shares of LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Finally, Barclays raised their price target on shares of LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, LPL Financial presently has a consensus rating of "Moderate Buy" and an average price target of $387.69.

LPL Financial Stock Performance

Shares of LPLA opened at $364.37 on Friday. The company has a 50-day simple moving average of $360.49 and a two-hundred day simple moving average of $346.14. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.31 and a quick ratio of 2.31. The firm has a market capitalization of $29.14 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced 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 firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The business's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.83 EPS. On average, analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, May 30th. LPL Financial's dividend payout ratio is presently 8.30%.

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.

Want to see what other hedge funds are holding LPLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.