LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Sold by Annex Advisory Services LLC

Annex Advisory Services LLC lessened its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 30.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,604 shares of the financial services provider's stock after selling 3,747 shares during the quarter. Annex Advisory Services LLC's holdings in LPL Financial were worth $2,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after purchasing an additional 276,166 shares during the period. DAVENPORT & Co LLC lifted its position in LPL Financial by 3.1% during the fourth quarter. DAVENPORT & Co LLC now owns 1,762 shares of the financial services provider's stock valued at $575,000 after buying an additional 53 shares in the last quarter. Jennison Associates LLC grew its stake in LPL Financial by 14.1% during the fourth quarter. Jennison Associates LLC now owns 108,256 shares of the financial services provider's stock worth $35,347,000 after buying an additional 13,406 shares during the period. Mather Group LLC. increased its position in shares of LPL Financial by 4.1% in the fourth quarter. Mather Group LLC. now owns 916 shares of the financial services provider's stock worth $299,000 after acquiring an additional 36 shares in the last quarter. Finally, Yousif Capital Management LLC increased its position in shares of LPL Financial by 5.1% in the fourth quarter. Yousif Capital Management LLC now owns 1,783 shares of the financial services provider's stock worth $582,000 after acquiring an additional 86 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Up 2.3%

Shares of LPLA stock traded up $8.89 during mid-day trading on Friday, reaching $388.96. 419,749 shares of the company were exchanged, compared to its average volume of 834,281. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The business's 50 day simple moving average is $340.28 and its 200 day simple moving average is $340.86. The company has a market capitalization of $31.11 billion, a P/E ratio of 27.70, a P/E/G ratio of 0.94 and a beta of 0.67. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping 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 analysts' expectations of $3.63 billion. During the same quarter last year, the company posted $3.83 earnings per share. The company's quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts predict that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. LPL Financial's payout ratio is currently 8.30%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LPLA. Wall Street Zen raised shares of LPL Financial from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Citigroup decreased their target price on LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Barclays raised their target price on LPL Financial from $365.00 to $400.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Wells Fargo & Company decreased their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, JMP Securities increased their price objective on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Thirteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $377.50.

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.