IFM Investors Pty Ltd Buys 1,181 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

IFM Investors Pty Ltd lifted its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,876 shares of the financial services provider's stock after acquiring an additional 1,181 shares during the period. IFM Investors Pty Ltd's holdings in LPL Financial were worth $5,194,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Anchor Investment Management LLC lifted its holdings in shares of LPL Financial by 0.3% during the fourth quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock valued at $3,166,000 after acquiring an additional 28 shares during the period. Colonial Trust Co SC lifted its holdings in shares of LPL Financial by 6.1% during the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock valued at $165,000 after acquiring an additional 29 shares during the period. United Capital Financial Advisors LLC lifted its holdings in shares of LPL Financial by 2.6% during the fourth quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock valued at $393,000 after acquiring an additional 31 shares during the period. Tyler Stone Wealth Management lifted its holdings in shares of LPL Financial by 3.7% during the fourth quarter. Tyler Stone Wealth Management now owns 1,076 shares of the financial services provider's stock valued at $351,000 after acquiring an additional 38 shares during the period. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of LPL Financial by 4.9% during the first quarter. Koshinski Asset Management Inc. now owns 812 shares of the financial services provider's stock valued at $266,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 95.66% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LPLA shares. TD Cowen cut LPL Financial from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from $406.00 to $403.00 in a report on Wednesday. Barclays lifted their price target on LPL Financial from $450.00 to $460.00 and gave the company an "overweight" rating in a report on Thursday. 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. Wall Street Zen cut LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Citigroup cut LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price target for the company. in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $363.08.

LPL Financial Trading Down 0.2%

Shares of LPLA stock traded down $0.72 on Thursday, reaching $380.18. The company had a trading volume of 613,772 shares, compared to its average volume of 851,918. 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 stock has a market cap of $30.41 billion, a PE ratio of 26.31, a PEG ratio of 1.05 and a beta of 0.64. The company has a 50-day moving average of $372.62 and a 200-day moving average of $349.25. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released 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. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. During the same period last year, the business earned $3.83 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

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

Insider Transactions at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $382.63, for a total transaction of $573,945.00. Following the completion of the transaction, the director owned 20,620 shares in the company, valued at approximately $7,889,830.60. This represents a 6.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company's stock.

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.