Checchi Capital Advisers LLC purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 718 shares of the financial services provider's stock, valued at approximately $235,000.
A number of other institutional investors also recently modified their holdings of the business. Graney & King LLC acquired a new stake in shares of LPL Financial in the fourth quarter valued at about $30,000. Private Trust Co. NA boosted its position in shares of LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 39 shares in the last quarter. City Holding Co. bought a new stake in shares of LPL Financial during the 1st quarter valued at about $34,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of LPL Financial during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 95.66% of the company's stock.
Analyst Ratings Changes
Several brokerages recently commented on LPLA. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and upped their target price for the company from $420.00 to $460.00 in a research report on Monday, June 9th. Morgan Stanley increased their price target on LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. JMP Securities increased their price target on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Barclays increased their price target on LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $387.69.
Check Out Our Latest Research Report on LPL Financial
LPL Financial Stock Up 2.1%
LPLA stock traded up $7.80 during midday trading on Friday, hitting $384.27. The company's stock had a trading volume of 348,551 shares, compared to its average volume of 851,480. The company has a market cap of $30.73 billion, a PE ratio of 26.59, a P/E/G ratio of 1.05 and a beta of 0.64. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $390.23. 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 firm's 50-day moving average is $368.80 and its 200-day moving average is $348.28.
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, beating the consensus estimate of $4.54 by $0.61. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. LPL Financial's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.83 earnings per share. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.
LPL Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were paid a $0.30 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. LPL Financial's payout ratio is presently 8.30%.
LPL Financial Company Profile
(
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.
Further Reading
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