LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. decreased its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 7.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,621 shares of the financial services provider's stock after selling 2,783 shares during the period. Reinhart Partners LLC.'s holdings in LPL Financial were worth $10,672,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Graney & King LLC acquired a new stake in shares of LPL Financial during the fourth quarter worth about $30,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of LPL Financial by 63.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after buying an additional 39 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of LPL Financial during the fourth quarter worth about $40,000. Itau Unibanco Holding S.A. purchased a new position in LPL Financial during the fourth quarter worth about $42,000. Finally, Jones Financial Companies Lllp raised its holdings in LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on LPLA. Morgan Stanley increased their price target on shares of LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Wells Fargo & Company cut their price target on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Citigroup cut their price target on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Barclays increased their price target on shares of LPL Financial from $365.00 to $400.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, Wall Street Zen raised shares of LPL Financial from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, LPL Financial presently has a consensus rating of "Buy" and a consensus price target of $377.50.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $388.96 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $31.11 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 0.94 and a beta of 0.67. The firm's fifty day simple moving average is $341.36 and its 200 day simple moving average is $341.37. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted 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 8.55% and a return on equity of 49.41%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the business posted $3.83 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, May 30th. LPL Financial's dividend payout ratio (DPR) is 8.30%.

About LPL Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.