Oppenheimer Asset Management Inc. trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 22.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,927 shares of the financial services provider's stock after selling 3,220 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in LPL Financial were worth $3,575,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of LPLA. Graney & King LLC purchased a new stake in shares of LPL Financial during the fourth quarter valued at $30,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of LPL Financial by 63.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 39 shares during the period. City Holding Co. purchased a new stake in shares of LPL Financial during the first quarter valued at $34,000. Fourth Dimension Wealth LLC purchased a new stake in shares of LPL Financial during the fourth quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of LPL Financial during the fourth quarter valued at $42,000. 95.66% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. JMP Securities boosted their target price on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a research note on Friday, May 9th. Wall Street Zen lowered shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Wells Fargo & Company lowered 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 note on Tuesday, April 8th. Barclays boosted their target price on shares of LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, Citigroup lowered shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 target price for the company. in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $387.69.
Read Our Latest Stock Analysis on LPL Financial
LPL Financial Stock Up 0.2%
NASDAQ:LPLA traded up $0.59 during mid-day trading on Friday, reaching $364.96. The company's stock had a trading volume of 1,350,998 shares, compared to its average volume of 845,114. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $390.23. The stock has a fifty day moving average of $361.67 and a 200-day moving average of $346.53. The firm has a market capitalization of $29.19 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 1.00 and a beta of 0.67. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.82.
LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its 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 business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The firm's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.83 earnings per share. Equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.
LPL Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were issued 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 yield of 0.33%. LPL Financial's dividend payout ratio 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.
Further Reading
Before you consider LPL Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and LPL Financial wasn't on the list.
While LPL Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
