NBC Securities Inc. Purchases 2,127 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

NBC Securities Inc. increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 106,350.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,129 shares of the financial services provider's stock after purchasing an additional 2,127 shares during the period. NBC Securities Inc.'s holdings in LPL Financial were worth $696,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in LPLA. Truist Financial Corp increased its holdings in shares of LPL Financial by 7.9% during the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock valued at $62,740,000 after purchasing an additional 14,106 shares during the period. Bank of Montreal Can lifted its stake in LPL Financial by 46.9% during the fourth quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider's stock valued at $19,561,000 after buying an additional 19,126 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in LPL Financial by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider's stock worth $109,625,000 after purchasing an additional 13,936 shares during the period. JPMorgan Chase & Co. boosted its position in shares of LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider's stock worth $296,635,000 after buying an additional 276,166 shares during the period. Finally, Dynasty Wealth Management LLC grew its stake in LPL Financial by 58.8% during the 4th quarter. Dynasty Wealth Management LLC now owns 6,165 shares of the financial services provider's stock valued at $2,013,000 after acquiring an additional 2,283 shares in the last quarter. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

LPLA stock traded up $8.89 during mid-day trading on Friday, reaching $388.96. 419,749 shares of the stock traded hands, compared to its average volume of 834,281. The firm has a market capitalization of $31.11 billion, a PE ratio of 27.70, a P/E/G ratio of 0.94 and a beta of 0.67. The business has a 50-day moving average of $340.28 and a two-hundred day moving average of $340.86. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $390.23. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter in the previous year, the firm earned $3.83 EPS. The firm's revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of LPL Financial from $415.00 to $400.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Wall Street Zen raised shares of LPL Financial from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. JMP Securities upped their price target on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research note on Friday, May 9th. Morgan Stanley raised their price objective on shares of LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company decreased their target price 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. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $377.50.

LPL Financial Company 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.