Choreo LLC Grows Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Key Points

• Choreo LLC increased its stake in LPL Financial Holdings Inc. by 100.2%, holding 3,400 shares valued at approximately $1.11 million at the end of the last quarter.
• Numerous institutional investors, including Janus Henderson Group and Principal Financial Group, have also raised their positions in LPL Financial, indicating strong institutional support with 95.66% of the stock owned by institutional investors.
• LPL Financial received several analyst upgrades recently, with target prices rising to as high as $490 from Morgan Stanley, contributing to an overall rating of "Moderate Buy" with a consensus target price of $372.15.

Choreo LLC grew its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 100.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,400 shares of the financial services provider's stock after purchasing an additional 1,702 shares during the quarter. Choreo LLC's holdings in LPL Financial were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Millstone Evans Group LLC increased its holdings in shares of LPL Financial by 123.1% in the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 48 shares during the period. Private Trust Co. NA increased its holdings in shares of LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 68 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of LPL Financial by 63.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 39 shares during the period. City Holding Co. acquired a new position in shares of LPL Financial in the 1st quarter valued at $34,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of LPL Financial in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Insider Activity at LPL Financial

In related news, Director Greg Gates sold 1,500 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total value of $573,945.00. Following the sale, the director directly owned 20,620 shares in the company, valued at $7,889,830.60. The trade was a 6.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

LPL Financial Price Performance

Shares of NASDAQ LPLA traded up $1.89 during trading on Tuesday, hitting $386.93. 482,346 shares of the company were exchanged, compared to its average volume of 794,807. The company has a market cap of $30.95 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 0.93 and a beta of 0.64. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $396.25. The firm's fifty day moving average price is $377.66 and its 200 day moving average price is $353.63. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.31 and a quick ratio of 2.31.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping the consensus estimate of $4.54 by $0.61. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $3.83 EPS. On average, sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were given a $0.30 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.31%. LPL Financial's dividend payout ratio is presently 8.30%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LPLA shares. TD Cowen cut shares of LPL Financial from a "strong-buy" rating to a "hold" rating and dropped their price objective for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. Wall Street Zen cut shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Barclays boosted their price objective on shares of LPL Financial from $450.00 to $460.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Morgan Stanley reissued an "overweight" rating and issued a $490.00 price objective (up from $450.00) on shares of LPL Financial in a research note on Tuesday, July 15th. 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 research note on Monday, June 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $372.15.

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.