IFM Investors Pty Ltd Increases Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

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

Several other large investors have also modified their holdings of the stock. Graney & King LLC bought a new stake in shares of LPL Financial in the 4th quarter worth approximately $30,000. Private Trust Co. NA lifted its stake in LPL Financial by 234.5% in the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock valued at $32,000 after buying an additional 68 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after buying an additional 39 shares during the last quarter. City Holding Co. bought a new stake in LPL Financial in the 1st quarter valued at about $34,000. Finally, Fourth Dimension Wealth LLC bought a new stake in LPL Financial in the 4th quarter valued at about $40,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on LPLA. Wall Street Zen downgraded shares of LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Wells Fargo & Company dropped their target price on LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Citigroup downgraded LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 price objective on the stock. in a research note on Monday, June 9th. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $420.00 to $460.00 in a research note on Monday, June 9th. Finally, Morgan Stanley boosted their price target 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. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $387.69.

LPL Financial Trading Down 0.5%

Shares of LPLA stock traded down $1.75 during mid-day trading on Tuesday, reaching $378.99. 57,840 shares of the stock traded hands, compared to its average volume of 847,123. The stock's fifty day simple moving average is $370.11 and its two-hundred day simple moving average is $348.79. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.82. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $394.00. The company has a market cap of $30.31 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.05 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly 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. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the company earned $3.83 EPS. The company's revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal 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 issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. LPL Financial's dividend payout ratio is currently 8.30%.

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.