MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $6.98 Million Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 133.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,325 shares of the financial services provider's stock after acquiring an additional 12,200 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in LPL Financial were worth $6,976,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Anchor Investment Management LLC grew its holdings in shares of LPL Financial by 0.3% during the 4th 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 in the last quarter. Colonial Trust Co SC lifted its holdings in LPL Financial by 6.1% in the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock worth $165,000 after purchasing an additional 29 shares during the last quarter. Wealth Alliance grew its stake in LPL Financial by 2.1% in the 4th quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock valued at $484,000 after buying an additional 30 shares during the last quarter. United Capital Financial Advisors LLC lifted its position in LPL Financial by 2.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $393,000 after acquiring an additional 31 shares during the last quarter. Finally, Tyler Stone Wealth Management boosted its holdings in 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. Hedge funds and other institutional investors own 95.66% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup lowered 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. JMP Securities lifted their price target on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. Wall Street Zen lowered LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday. Barclays raised their price objective on shares of LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Finally, Wells Fargo & Company dropped their target price on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $387.69.

LPL Financial Price Performance

LPLA traded up $1.28 during midday trading on Wednesday, reaching $379.29. 473,318 shares of the company's stock were exchanged, compared to its average volume of 835,857. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.82. The business has a 50-day simple moving average of $352.02 and a two-hundred day simple moving average of $344.10. The firm has a market capitalization of $30.34 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.04 and a beta of 0.67. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating the consensus estimate of $4.54 by $0.61. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. LPL Financial's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.83 EPS. As a group, research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were given a dividend of $0.30 per share. The ex-dividend date was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. LPL Financial's dividend payout ratio (DPR) is presently 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.