LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Bought by Praxis Investment Management Inc.

Praxis Investment Management Inc. boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 64.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,640 shares of the financial services provider's stock after buying an additional 1,030 shares during the quarter. Praxis Investment Management Inc.'s holdings in LPL Financial were worth $864,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Anchor Investment Management LLC raised its holdings in LPL Financial by 0.3% in the fourth quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock valued at $3,166,000 after acquiring an additional 28 shares in the last quarter. Colonial Trust Co SC raised its holdings in shares of LPL Financial by 6.1% in the 4th 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. Wealth Alliance lifted its position in shares of LPL Financial by 2.1% during the 4th quarter. Wealth Alliance now owns 1,483 shares of the financial services provider's stock worth $484,000 after purchasing an additional 30 shares during the last quarter. United Capital Financial Advisors LLC lifted its position in shares of LPL Financial by 2.6% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock worth $393,000 after purchasing an additional 31 shares during the last quarter. Finally, Tyler Stone Wealth Management grew its stake in shares of LPL Financial by 3.7% during the fourth quarter. Tyler Stone Wealth Management now owns 1,076 shares of the financial services provider's stock worth $351,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

LPL Financial Stock Performance

Shares of LPLA traded down $5.22 during mid-day trading on Monday, hitting $374.36. 441,110 shares of the company's stock were exchanged, compared to its average volume of 836,211. The firm has a market capitalization of $29.94 billion, a P/E ratio of 25.91, a P/E/G ratio of 1.04 and a beta of 0.66. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $390.23. The business's 50 day moving average is $357.42 and its two-hundred day moving average is $345.67. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.82.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping the consensus estimate of $4.54 by $0.61. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.83 EPS. On average, equities analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were issued a $0.30 dividend. The ex-dividend date 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 8.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LPLA. Morgan Stanley lifted their price target on LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Barclays boosted their target price on LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, June 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. Citigroup downgraded shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 price objective for the company. in a research report on Monday, June 9th. Finally, Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and increased their target price for the company from $420.00 to $460.00 in a research report on Monday, June 9th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $387.69.

LPL Financial 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.