Transcend Capital Advisors LLC Acquires New Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Transcend Capital Advisors LLC purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,568 shares of the financial services provider's stock, valued at approximately $513,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Boston Partners lifted its position in shares of LPL Financial by 26.0% during the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider's stock worth $1,278,454,000 after purchasing an additional 805,637 shares in the last quarter. Janus Henderson Group PLC raised its position in LPL Financial by 20.6% in the 4th quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider's stock worth $996,032,000 after purchasing an additional 522,032 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in LPL Financial by 2.2% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider's stock worth $868,757,000 after purchasing an additional 57,485 shares during the last quarter. Geode Capital Management LLC lifted its holdings in LPL Financial by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider's stock worth $475,946,000 after buying an additional 23,111 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in LPL Financial by 57.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider's stock valued at $364,290,000 after buying an additional 405,341 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Trading Down 0.5%

Shares of NASDAQ:LPLA traded down $1.92 during mid-day trading on Tuesday, reaching $373.05. The stock had a trading volume of 784,847 shares, compared to its average volume of 846,743. The firm has a 50 day simple moving average of $364.76 and a two-hundred day simple moving average of $347.14. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $390.23. The firm has a market cap of $29.84 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.03 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 (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating the consensus estimate of $4.54 by $0.61. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.83 earnings per share. On average, research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LPLA shares. Citigroup downgraded LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 target price for the company. in a research report on Monday, June 9th. JMP Securities boosted their price objective on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Barclays upped their target price 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. Wells Fargo & Company reduced 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 note on Tuesday, April 8th. Finally, Wall Street Zen downgraded shares of LPL Financial from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.