Handelsbanken Fonder AB lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,181 shares of the financial services provider's stock after purchasing an additional 2,000 shares during the quarter. Handelsbanken Fonder AB's holdings in LPL Financial were worth $6,929,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Graney & King LLC acquired a new stake in LPL Financial during the fourth quarter worth about $30,000. MassMutual Private Wealth & Trust FSB lifted its holdings 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 worth $33,000 after acquiring an additional 39 shares during the period. City Holding Co. acquired a new stake in shares of LPL Financial during the 1st quarter worth approximately $34,000. Fourth Dimension Wealth LLC bought a new position in LPL Financial in the fourth quarter valued at approximately $40,000. Finally, Itau Unibanco Holding S.A. bought a new position in LPL Financial in the fourth quarter valued at approximately $42,000. 95.66% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
LPLA has been the subject of several recent analyst reports. Morgan Stanley upped their target price on LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $420.00 to $460.00 in a report on Monday. Wells Fargo & Company dropped their price objective on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Barclays raised their price objective on LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Citigroup downgraded LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 target price for the company. in a research note on Monday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, LPL Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $387.69.
Check Out Our Latest Report on LPL Financial
LPL Financial Price Performance
LPLA traded down $5.31 on Friday, reaching $374.08. The stock had a trading volume of 427,374 shares, compared to its average volume of 835,310. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $29.92 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 0.94 and a beta of 0.67. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $390.23. The firm has a 50-day moving average of $347.24 and a 200-day moving average of $342.92.
LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.83 earnings per share. As a group, sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.
LPL Financial Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were given a $0.30 dividend. 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%.
LPL Financial Company Profile
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Free Report)
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.
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