Blue Trust Inc. increased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 2,319.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,137 shares of the financial services provider's stock after purchasing an additional 1,090 shares during the quarter. Blue Trust Inc.'s holdings in LPL Financial were worth $372,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LPLA. Friedenthal Financial acquired a new stake in shares of LPL Financial in the 1st quarter valued at approximately $949,000. PUREfi Wealth LLC acquired a new stake in LPL Financial in the first quarter valued at $205,000. Insigneo Advisory Services LLC purchased a new stake in shares of LPL Financial during the 1st quarter worth $390,000. Sowell Financial Services LLC acquired a new position in shares of LPL Financial during the 1st quarter worth $957,000. Finally, Brighton Jones LLC purchased a new position in shares of LPL Financial in the 1st quarter valued at about $396,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.
LPL Financial Price Performance
LPL Financial stock opened at $379.58 on Monday. The stock has a market capitalization of $30.36 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.04 and a beta of 0.66. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $390.23. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.31 and a quick ratio of 2.31. The firm's 50-day moving average is $356.15 and its two-hundred day moving average is $345.34.
LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.54 by $0.61. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. LPL Financial's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.83 earnings per share. Equities analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current 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 paid a $0.30 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 0.32%. LPL Financial's payout ratio is currently 8.30%.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Morgan Stanley upped their target price on shares of LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Wall Street Zen cut LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Citigroup cut LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 price objective for the company. in a report on Monday, June 9th. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and raised their price target for the company from $420.00 to $460.00 in a research report on Monday, June 9th. Finally, Barclays boosted their price objective on shares of LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, LPL Financial currently has an average rating of "Moderate Buy" and a consensus price target of $387.69.
View Our Latest Stock Analysis on LPLA
About LPL Financial
(
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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