Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 112.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,473 shares of the financial services provider's stock after acquiring an additional 9,240 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in LPL Financial were worth $5,886,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in LPLA. Graney & King LLC acquired a new position in LPL Financial in the fourth quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of LPL Financial by 63.9% during the 1st 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 last quarter. City Holding Co. acquired a new position in shares of LPL Financial in the 1st quarter valued at $34,000. Fourth Dimension Wealth LLC acquired a new position in shares of LPL Financial in the 4th quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of LPL Financial in the 4th quarter valued at $42,000. 95.66% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target 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. Morgan Stanley lifted their target price on LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Citigroup cut LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 target price for the company. in a research report on Monday, June 9th. Barclays lifted their price target on LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Finally, Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and increased their price objective for the company from $420.00 to $460.00 in a report on Monday, June 9th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, LPL Financial currently has an average rating of "Moderate Buy" and an average target price of $387.69.
Check Out Our Latest Analysis on LPL Financial
LPL Financial Stock Performance
Shares of LPLA stock traded up $3.42 during mid-day trading on Wednesday, hitting $376.47. The stock had a trading volume of 978,476 shares, compared to its average volume of 847,267. The firm has a market cap of $30.11 billion, a PE ratio of 26.05, a PEG ratio of 1.03 and a beta of 0.64. The company's 50-day simple moving average is $364.76 and its 200-day simple moving average is $347.14. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.31 and a quick ratio of 2.31. 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 announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating analysts' consensus estimates of $4.54 by $0.61. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the firm earned $3.83 earnings per share. The firm's revenue was up 4.5% compared to the same quarter last year. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.
LPL Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. LPL Financial's dividend payout ratio (DPR) is presently 8.30%.
About LPL Financial
(
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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