Philip James Wealth Mangement LLC Purchases New Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Philip James Wealth Mangement LLC purchased a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 771 shares of the financial services provider's stock, valued at approximately $252,000.

A number of other institutional investors have also modified their holdings of the stock. Anchor Investment Management LLC increased its position in LPL Financial by 0.3% during the 4th quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock valued at $3,166,000 after purchasing an additional 28 shares during the period. Colonial Trust Co SC boosted its stake in shares of LPL Financial by 6.1% during the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock valued at $165,000 after purchasing an additional 29 shares in the last quarter. United Capital Financial Advisors LLC increased its holdings in LPL Financial by 2.6% during the fourth quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock valued at $393,000 after buying an additional 31 shares during the period. Tyler Stone Wealth Management raised its stake in LPL Financial by 3.7% in the fourth quarter. Tyler Stone Wealth Management now owns 1,076 shares of the financial services provider's stock worth $351,000 after buying an additional 38 shares in the last quarter. Finally, Mariner LLC increased its holdings in shares of LPL Financial by 0.3% in the 4th quarter. Mariner LLC now owns 12,611 shares of the financial services provider's stock valued at $4,117,000 after acquiring an additional 39 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Price Performance

NASDAQ:LPLA opened at $364.37 on Friday. 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 Holdings Inc. has a 52 week low of $187.19 and a 52 week high of $390.23. The stock's 50-day moving average price is $360.49 and its 200-day moving average price is $346.14. The stock has a market capitalization of $29.14 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted 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 return on equity of 46.34% and a net margin of 8.23%. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.63 billion. During the same period in the previous year, the business earned $3.83 earnings per share. The business's revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.33%. LPL Financial's dividend payout ratio is currently 8.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LPLA shares. JMP Securities lifted their price objective on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Friday, May 9th. Redburn Atlantic raised LPL Financial from a "neutral" rating to a "buy" rating and raised their price target for the stock from $420.00 to $460.00 in a report on Monday, June 9th. Citigroup downgraded shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 price objective on the stock. in a report on Monday, June 9th. Wells Fargo & Company dropped their target price on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays raised their price target on shares of LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $387.69.

About LPL Financial

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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