Avanza Fonder AB increased its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 25.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,607 shares of the financial services provider's stock after acquiring an additional 1,134 shares during the quarter. Avanza Fonder AB's holdings in LPL Financial were worth $1,897,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Yousif Capital Management LLC increased its stake in shares of LPL Financial by 5.1% during the fourth quarter. Yousif Capital Management LLC now owns 1,783 shares of the financial services provider's stock worth $582,000 after acquiring an additional 86 shares during the period. Choreo LLC raised its stake in shares of LPL Financial by 60.6% during the 4th quarter. Choreo LLC now owns 1,698 shares of the financial services provider's stock worth $555,000 after buying an additional 641 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of LPL Financial by 6.9% in the 4th quarter. Apollon Wealth Management LLC now owns 972 shares of the financial services provider's stock valued at $317,000 after buying an additional 63 shares during the period. Kingsview Wealth Management LLC purchased a new stake in shares of LPL Financial in the fourth quarter valued at approximately $242,000. Finally, Entropy Technologies LP acquired a new position in LPL Financial during the fourth quarter worth $422,000. Institutional investors and hedge funds own 95.66% of the company's stock.
Analysts Set New Price Targets
Several brokerages have commented on LPLA. 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. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and upped their price target for the stock from $420.00 to $460.00 in a report on Monday. Barclays lifted their price objective on LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday. Morgan Stanley upped their target price on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Finally, Wall Street Zen raised LPL Financial from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $387.69.
Read Our Latest Report on LPL Financial
LPL Financial Trading Up 0.6%
LPLA traded up $2.31 on Thursday, reaching $379.39. 341,529 shares of the company's stock were exchanged, compared to its average volume of 836,942. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $390.23. The company's 50 day moving average is $345.41 and its 200-day moving average is $342.54. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market cap of $30.34 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 0.94 and a beta of 0.67.
LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.61. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.83 EPS. Equities analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.
LPL Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. LPL Financial's payout ratio is currently 8.30%.
About LPL Financial
(
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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