Elevation Point Wealth Partners LLC decreased its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 19.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,973 shares of the financial services provider's stock after selling 720 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in LPL Financial were worth $973,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Graney & King LLC bought a new position in LPL Financial during the fourth quarter worth about $30,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of 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 position in shares of LPL Financial during the 1st quarter worth approximately $34,000. Fourth Dimension Wealth LLC acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $40,000. Finally, Itau Unibanco Holding S.A. bought a new stake in LPL Financial in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 95.66% of the company's stock.
LPL Financial Price Performance
LPLA stock traded up $0.94 during midday trading on Wednesday, reaching $378.95. The company had a trading volume of 314,899 shares, compared to its average volume of 835,290. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $390.23. The stock has a 50 day moving average price of $352.02 and a 200-day moving average price of $344.10. 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 company has a market capitalization of $30.31 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 1.04 and a beta of 0.67.
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 for the quarter, topping analysts' consensus estimates 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 net margin of 8.23% and a return on equity of 46.34%. The firm's quarterly 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. Equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.
LPL Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Friday, May 30th. LPL Financial's dividend payout ratio is presently 8.30%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on LPLA. Wells Fargo & Company reduced their price objective on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. JMP Securities upped their price target on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. Citigroup cut shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 price target on the stock. in a report on Monday, June 9th. Redburn Atlantic upgraded 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 report on Monday, June 9th. Finally, Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $387.69.
Get Our Latest Research Report on LPL Financial
LPL Financial Company Profile
(
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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