718 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Bought by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC purchased a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 718 shares of the financial services provider's stock, valued at approximately $235,000.

Several other institutional investors have also recently made changes to their positions in LPLA. Principal Financial Group Inc. grew its holdings in LPL Financial by 1,453.3% in the first quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider's stock worth $339,795,000 after purchasing an additional 971,814 shares during the last quarter. Norges Bank acquired a new stake in shares of LPL Financial in the 4th quarter worth $305,747,000. Boston Partners grew its stake in LPL Financial by 26.0% during the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock worth $1,278,454,000 after buying an additional 805,637 shares during the last quarter. Janus Henderson Group PLC increased its position in LPL Financial by 20.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock valued at $996,032,000 after buying an additional 522,032 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in LPL Financial in the fourth quarter valued at about $153,946,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

LPL Financial stock traded down $3.37 during midday trading on Monday, hitting $380.74. 535,010 shares of the company were exchanged, compared to its average volume of 850,214. The business has a fifty day simple moving average of $370.11 and a two-hundred day simple moving average of $348.79. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31. The firm has a market capitalization of $30.45 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 1.05 and a beta of 0.64. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $394.00.

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

LPL Financial Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LPLA shares. Citigroup lowered LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 price target on the stock. in a research note on Monday, June 9th. Morgan Stanley boosted their target price on shares of LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Wall Street Zen lowered shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. JMP Securities raised their price target on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Finally, Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $420.00 to $460.00 in a report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.