Summit Trail Advisors LLC Has $2.18 Million Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Summit Trail Advisors LLC increased its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 265.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,655 shares of the financial services provider's stock after buying an additional 4,833 shares during the quarter. Summit Trail Advisors LLC's holdings in LPL Financial were worth $2,177,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of LPL Financial in the 4th quarter valued at about $305,747,000. Raymond James Financial Inc. bought a new stake in LPL Financial in the fourth quarter valued at approximately $295,982,000. Boston Partners raised its stake in LPL Financial by 26.0% in the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock valued at $1,278,454,000 after buying an additional 805,637 shares during the period. Janus Henderson Group PLC lifted its position in shares of LPL Financial by 20.6% in the fourth quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock valued at $996,032,000 after buying an additional 522,032 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in shares of LPL Financial during the 4th quarter worth approximately $153,946,000. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Price Performance

NASDAQ LPLA traded up $7.80 during midday trading on Thursday, hitting $384.27. The company had a trading volume of 347,320 shares, compared to its average volume of 847,423. The firm has a 50-day moving average price of $366.04 and a 200-day moving average price of $347.34. The company has a market capitalization of $30.73 billion, a PE ratio of 26.59, a P/E/G ratio of 1.02 and a beta of 0.64. 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 Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $390.23.

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

LPL Financial Announces Dividend

The firm 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Friday, May 30th. LPL Financial's dividend payout ratio is presently 8.30%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company cut their price target on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Barclays increased their price objective on shares of LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. JMP Securities lifted 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. Citigroup lowered shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 price target on the stock. in a research note on Monday, June 9th. Finally, Redburn Atlantic upgraded LPL Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $420.00 to $460.00 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.