SG Americas Securities LLC Takes Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

SG Americas Securities LLC bought a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,987 shares of the financial services provider's stock, valued at approximately $2,286,000.

Several other institutional investors have also modified their holdings of the business. Graney & King LLC acquired a new position in shares of LPL Financial in the 4th quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of LPL Financial by 63.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after buying an additional 39 shares during the last quarter. City Holding Co. bought a new stake in shares of LPL Financial in the first quarter worth $34,000. Fourth Dimension Wealth LLC acquired a new stake in LPL Financial in the fourth quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. bought a new position in LPL Financial during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LPLA. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $420.00 to $460.00 in a research report on Monday, June 9th. Morgan Stanley lifted their price objective on shares of LPL Financial from $330.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. JMP Securities increased their target price on shares of LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Wells Fargo & Company reduced their price target 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, Wall Street Zen downgraded shares of LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, LPL Financial currently has a consensus rating of "Moderate Buy" and an average price target of $387.69.

LPL Financial Stock Performance

Shares of LPLA traded up $1.88 during mid-day trading on Wednesday, reaching $379.89. 290,532 shares of the company's stock traded hands, compared to its average volume of 835,202. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31. The business's 50-day moving average price is $352.02 and its 200-day moving average price is $344.10. The stock has a market capitalization of $30.38 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 1.04 and a beta of 0.67. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $390.23.

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

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Friday, May 30th. LPL Financial's payout ratio is currently 8.30%.

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.