Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 7.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,910 shares of the financial services provider's stock after purchasing an additional 1,114 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in LPL Financial were worth $5,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Graney & King LLC purchased a new stake in shares of LPL Financial in the 4th quarter worth about $30,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock worth $33,000 after acquiring an additional 39 shares during the period. City Holding Co. bought a new position in shares of LPL Financial in the 1st quarter worth approximately $34,000. Fourth Dimension Wealth LLC purchased a new position in shares of LPL Financial in the 4th quarter valued at approximately $40,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of LPL Financial during the fourth quarter valued at approximately $42,000. Institutional investors own 95.66% of the company's stock.

LPL Financial Stock Up 0.9%

LPL Financial stock opened at $376.47 on Thursday. LPL Financial Holdings Inc. has a 12 month low of $187.19 and a 12 month high of $390.23. The stock has a fifty day simple moving average of $366.04 and a two-hundred day simple moving average of $347.34. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.82. The firm has a market cap of $30.11 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.02 and a beta of 0.64.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data 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. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period last year, the company earned $3.83 EPS. LPL Financial'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 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were paid 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 is presently 8.30%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LPLA. Barclays increased their price objective on LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Redburn Atlantic upgraded shares of LPL Financial from a "neutral" rating to a "buy" rating and increased their price target for the stock from $420.00 to $460.00 in a research note on Monday, June 9th. Citigroup lowered shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 price objective on the stock. in a research note on Monday, June 9th. JMP Securities upped their price objective 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. Finally, 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 report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $387.69.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.