Insigneo Advisory Services LLC Purchases Shares of 1,193 LPL Financial Holdings Inc. (NASDAQ:LPLA)

Insigneo Advisory Services LLC acquired a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,193 shares of the financial services provider's stock, valued at approximately $390,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Bank of Montreal Can grew its holdings in LPL Financial by 46.9% in the 4th quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock valued at $19,561,000 after buying an additional 19,126 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of LPL Financial by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock valued at $109,625,000 after purchasing an additional 13,936 shares during the period. Dynasty Wealth Management LLC raised its stake in LPL Financial by 58.8% during the fourth quarter. Dynasty Wealth Management LLC now owns 6,165 shares of the financial services provider's stock worth $2,013,000 after acquiring an additional 2,283 shares in the last quarter. Merit Financial Group LLC increased its position in shares of LPL Financial by 195.1% during the 1st quarter. Merit Financial Group LLC now owns 3,341 shares of the financial services provider's stock worth $1,093,000 after purchasing an additional 2,209 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of LPL Financial during the fourth quarter worth approximately $450,000. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Up 0.1%

Shares of LPL Financial stock traded up $0.29 during trading on Friday, reaching $379.58. The stock had a trading volume of 405,851 shares, compared to its average volume of 837,797. 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 capitalization of $30.36 billion, a price-to-earnings ratio of 26.27, a P/E/G ratio of 1.04 and a beta of 0.67. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $390.23. The stock has a fifty day moving average price of $356.15 and a two-hundred day moving average price of $345.24.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $4.54 by $0.61. The firm 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 46.34% and a net margin of 8.23%. The business's revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.83 EPS. Sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Friday, May 30th. LPL Financial's dividend payout ratio (DPR) is currently 8.30%.

Analysts Set New Price Targets

LPLA has been the subject of a number of research analyst reports. Redburn Atlantic raised 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 report on Monday, June 9th. Barclays increased their target price on LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. 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. JMP Securities upped their price objective on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Finally, Citigroup lowered LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 target price on the stock. in a report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $387.69.

LPL Financial 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.