Truist Financial Corp Has $67.22 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Truist Financial Corp lifted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 205,485 shares of the financial services provider's stock after acquiring an additional 13,332 shares during the quarter. Truist Financial Corp owned 0.26% of LPL Financial worth $67,222,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LPLA. Graney & King LLC acquired a new stake in LPL Financial during the fourth quarter valued at approximately $30,000. Private Trust Co. NA grew its position in shares of LPL Financial by 234.5% in the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after acquiring an additional 68 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of LPL Financial by 63.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 39 shares during the last quarter. City Holding Co. acquired a new stake in shares of LPL Financial during the 1st quarter valued at approximately $34,000. Finally, Fourth Dimension Wealth LLC bought a new position in LPL Financial during the fourth quarter worth $40,000. Institutional investors and hedge funds own 95.66% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $420.00 to $460.00 in a research report on Monday, June 9th. Wall Street Zen downgraded LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Wells Fargo & Company lowered 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. JMP Securities increased their price objective on shares of LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. Finally, Barclays raised their price objective on shares of LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $387.69.

LPL Financial Price Performance

Shares of NASDAQ:LPLA traded down $3.37 on Monday, reaching $380.74. 535,010 shares of the company traded hands, compared to its average volume of 850,214. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.31 and a quick ratio of 2.31. The stock has a market capitalization of $30.45 billion, a PE ratio of 26.35, a P/E/G ratio of 1.05 and a beta of 0.64. The company's 50 day moving average is $370.11 and its 200-day moving average is $348.79. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $394.00.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share 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 analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company posted $3.83 EPS. 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 declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend 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 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.