OLD National Bancorp IN Sells 1,782 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

OLD National Bancorp IN trimmed its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 55.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,424 shares of the financial services provider's stock after selling 1,782 shares during the period. OLD National Bancorp IN's holdings in LPL Financial were worth $466,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LPLA. JPMorgan Chase & Co. increased its stake 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. Yousif Capital Management LLC grew its holdings in LPL Financial by 5.1% in the 4th 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of LPL Financial by 4.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,233 shares of the financial services provider's stock valued at $2,692,000 after acquiring an additional 316 shares during the period. Choreo LLC raised its stake in shares of LPL Financial by 60.6% during the fourth quarter. Choreo LLC now owns 1,698 shares of the financial services provider's stock valued at $555,000 after acquiring an additional 641 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of LPL Financial by 6.9% during the fourth quarter. Apollon Wealth Management LLC now owns 972 shares of the financial services provider's stock valued at $317,000 after acquiring an additional 63 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LPLA shares. Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and boosted their price target for the company from $420.00 to $460.00 in a report on Monday. 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 note on Monday. Barclays raised their price target on LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday. JMP Securities boosted 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. Finally, Wells Fargo & Company dropped 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. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, LPL Financial currently has an average rating of "Moderate Buy" and a consensus price target of $387.69.

LPL Financial Stock Down 0.3%

NASDAQ:LPLA traded down $1.17 during mid-day trading on Tuesday, hitting $379.22. 500,535 shares of the company's stock were exchanged, compared to its average volume of 835,638. The company has a market cap of $30.33 billion, a PE ratio of 27.01, 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 Holdings Inc. has a one year low of $187.19 and a one year high of $390.23. The business has a fifty day moving average price of $342.20 and a 200 day moving average price of $342.04.

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 analysts' consensus estimates of $4.54 by $0.61. The firm had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.83 EPS. Equities analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently declared 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 0.32%. LPL Financial's payout ratio is presently 8.30%.

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.