GAMMA Investing LLC Grows Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

GAMMA Investing LLC lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 43,518.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,719 shares of the financial services provider's stock after buying an additional 155,362 shares during the quarter. GAMMA Investing LLC owned about 0.21% of LPL Financial worth $50,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Graney & King LLC purchased a new stake in shares of LPL Financial during the fourth quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB raised 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 during the period. Fourth Dimension Wealth LLC bought a new stake in shares of LPL Financial during the 4th quarter valued at $40,000. Itau Unibanco Holding S.A. bought a new stake in shares of LPL Financial during the 4th quarter valued at $42,000. Finally, Jones Financial Companies Lllp grew its stake in LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LPLA. Barclays lifted their price objective on shares of LPL Financial from $365.00 to $400.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Citigroup decreased their price objective on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Wall Street Zen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Morgan Stanley boosted their price target on shares of LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Finally, JMP Securities boosted their price objective 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. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $377.50.

LPL Financial Stock Performance

Shares of LPL Financial stock traded up $8.89 during trading on Friday, reaching $388.96. The company's stock had a trading volume of 419,749 shares, compared to its average volume of 836,471. The firm has a market cap of $31.11 billion, a PE ratio of 27.70, a P/E/G ratio of 0.94 and a beta of 0.67. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $390.23. The company has a 50-day moving average price of $341.36 and a two-hundred day moving average price of $341.37.

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 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 analyst estimates of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. LPL Financial's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.83 earnings per share. On average, analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Friday, May 30th. LPL Financial's payout ratio 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.