MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Raises Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 133.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,325 shares of the financial services provider's stock after buying an additional 12,200 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in LPL Financial were worth $6,976,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Foster Victor Wealth Advisors LLC increased its holdings in LPL Financial by 0.4% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 54,658 shares of the financial services provider's stock worth $17,022,000 after purchasing an additional 199 shares during the period. Family Wealth Partners LLC increased its holdings in LPL Financial by 3.8% during the 1st quarter. Family Wealth Partners LLC now owns 111,945 shares of the financial services provider's stock worth $36,622,000 after purchasing an additional 4,084 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in LPL Financial by 7.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the financial services provider's stock worth $2,623,000 after purchasing an additional 552 shares during the period. Net Worth Advisory Group increased its holdings in LPL Financial by 31.0% during the 1st quarter. Net Worth Advisory Group now owns 1,353 shares of the financial services provider's stock worth $442,000 after purchasing an additional 320 shares during the period. Finally, Fifth Third Bancorp increased its holdings in LPL Financial by 1,395.5% during the 1st quarter. Fifth Third Bancorp now owns 658 shares of the financial services provider's stock worth $215,000 after purchasing an additional 614 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Trading Down 1.4%

Shares of NASDAQ:LPLA opened at $374.08 on Friday. The business's 50-day moving average is $348.98 and its 200 day moving average is $343.36. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $390.23. The firm has a market capitalization of $29.92 billion, a P/E ratio of 26.64, a P/E/G ratio of 0.94 and a beta of 0.67. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.61. The company 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 49.41% and a net margin of 8.55%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $3.83 EPS. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders 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

Several research firms have commented on LPLA. Wells Fargo & Company reduced their price objective 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 cut LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 target price on the stock. in a research report on Monday, June 9th. JMP Securities increased their target price on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research report on Friday, May 9th. Barclays increased their target price on LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Finally, Morgan Stanley increased their target price on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Two 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.com, the company has an average rating of "Moderate Buy" and an average target price of $387.69.

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.

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