Crossmark Global Holdings Inc. Acquires 7,789 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Crossmark Global Holdings Inc. boosted its position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 213.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,437 shares of the financial services provider's stock after buying an additional 7,789 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in LPL Financial were worth $3,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of LPLA. Graney & King LLC purchased a new stake in LPL Financial in the fourth quarter worth $30,000. Private Trust Co. NA increased its position in LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after buying an additional 68 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after buying an additional 39 shares during the last quarter. City Holding Co. purchased a new stake in LPL Financial in the first quarter worth $34,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in LPL Financial in the fourth quarter worth $40,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of LPL Financial stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $382.63, for a total transaction of $573,945.00. Following the completion of the sale, the director owned 20,620 shares of the company's stock, valued at $7,889,830.60. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

LPL Financial Price Performance

LPL Financial stock traded down $2.70 during midday trading on Wednesday, hitting $380.90. 685,485 shares of the company's stock were exchanged, compared to its average volume of 851,225. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $390.23. The stock has a 50-day moving average price of $371.40 and a two-hundred day moving average price of $349.03. 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 company has a market cap of $30.46 billion, a P/E ratio of 26.36, a PEG ratio of 1.04 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the company posted $3.83 earnings per share. The company's revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently declared 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. This represents a $1.20 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Friday, May 30th. LPL Financial's dividend payout ratio (DPR) is currently 8.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays lifted their price target on LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. TD Cowen reiterated a "hold" rating and issued a $403.00 price target (down from $406.00) on shares of LPL Financial in a research report on Wednesday. Citigroup cut LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target for the company. in a research report on Wednesday. Morgan Stanley lifted their price target on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Finally, Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and lifted their price target for the company from $420.00 to $460.00 in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $362.31.

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.