LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Bought by Family Wealth Partners LLC

Family Wealth Partners LLC increased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,945 shares of the financial services provider's stock after purchasing an additional 4,084 shares during the period. LPL Financial accounts for about 16.7% of Family Wealth Partners LLC's holdings, making the stock its biggest position. Family Wealth Partners LLC owned about 0.14% of LPL Financial worth $36,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of LPLA. Boston Partners lifted its stake in shares of LPL Financial by 26.0% during the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock valued at $1,278,454,000 after buying an additional 805,637 shares during the period. Janus Henderson Group PLC raised its holdings in LPL Financial by 20.6% in 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 acquiring an additional 522,032 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in LPL Financial by 2.2% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider's stock valued at $868,757,000 after acquiring an additional 57,485 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of LPL Financial by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider's stock worth $475,946,000 after purchasing an additional 23,111 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of LPL Financial by 57.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider's stock worth $364,290,000 after purchasing an additional 405,341 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LPLA shares. Citigroup downgraded LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 target price on the stock. in a research report on Monday, June 9th. Morgan Stanley increased their price objective on shares of LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Barclays boosted their target price on shares of LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, June 9th. JMP Securities increased their price target on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research note on Friday, May 9th. Finally, Wall Street Zen cut shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $387.69.

LPL Financial Stock Up 0.3%

Shares of LPLA traded up $0.96 during midday trading on Wednesday, reaching $378.97. 390,922 shares of the company were exchanged, compared to its average volume of 835,849. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $390.23. The stock has a 50-day moving average price of $352.02 and a 200-day moving average price 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. The company has a market cap of $30.31 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 1.04 and a beta of 0.67.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating the consensus estimate of $4.54 by $0.61. The business 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%. The company's revenue was up 4.5% on a year-over-year basis. During the same period last year, the business posted $3.83 EPS. Research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors 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 was Friday, May 30th. LPL Financial's dividend payout ratio (DPR) is 8.30%.

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.