Brighton Jones LLC Takes Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Brighton Jones LLC purchased a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,210 shares of the financial services provider's stock, valued at approximately $396,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in LPL Financial by 133.7% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 21,325 shares of the financial services provider's stock valued at $6,976,000 after buying an additional 12,200 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its position in shares of LPL Financial by 0.4% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 54,658 shares of the financial services provider's stock valued at $17,022,000 after buying an additional 199 shares in the last quarter. Family Wealth Partners LLC grew its stake in LPL Financial by 3.8% in the 1st quarter. Family Wealth Partners LLC now owns 111,945 shares of the financial services provider's stock valued at $36,622,000 after acquiring an additional 4,084 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in LPL Financial by 7.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the financial services provider's stock worth $2,623,000 after acquiring an additional 552 shares in the last quarter. Finally, Net Worth Advisory Group increased its holdings in LPL Financial by 31.0% in the 1st quarter. Net Worth Advisory Group now owns 1,353 shares of the financial services provider's stock worth $442,000 after acquiring an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Trading Up 0.3%

NASDAQ:LPLA traded up $1.28 during trading hours on Wednesday, hitting $379.29. The company had a trading volume of 475,356 shares, compared to its average volume of 835,857. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $390.23. The company has a market cap of $30.34 billion, a P/E ratio of 26.25, a P/E/G ratio of 1.04 and a beta of 0.67. The company has a 50-day moving average of $352.02 and a 200 day moving average of $344.10. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.82.

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 for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The firm had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter in the previous year, the company posted $3.83 EPS. The company's revenue was up 4.5% compared to the same quarter last year. Sell-side analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 0.32%. LPL Financial's dividend payout ratio (DPR) is 8.30%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday. JMP Securities raised their price target on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. Wells Fargo & Company lowered their price objective on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley increased 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, Barclays raised their target price on LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.