World Equity Group Inc. Trims Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

World Equity Group Inc. cut its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 51.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 829 shares of the financial services provider's stock after selling 891 shares during the quarter. World Equity Group Inc.'s holdings in LPL Financial were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LPLA. Graney & King LLC bought a new position in LPL Financial in the 4th quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 acquiring an additional 39 shares during the period. City Holding Co. purchased a new position in shares of LPL Financial in the first quarter valued at $34,000. Fourth Dimension Wealth LLC bought a new stake in shares of LPL Financial during the 4th quarter valued at $40,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in LPL Financial during the 4th quarter worth about $42,000. Institutional investors own 95.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LPLA. JMP Securities lifted their target price on LPL Financial from $420.00 to $440.00 and gave the company a "market outperform" rating in a report on Friday, May 9th. Wells Fargo & Company cut their price objective on shares of LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley upped their target price 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. Citigroup downgraded shares of LPL Financial from a "buy" rating to a "neutral" rating and set a $400.00 price target for the company. in a report on Monday, June 9th. Finally, Barclays upped their price target on shares of LPL Financial from $400.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $387.69.

LPL Financial Stock Down 4.1%

LPLA traded down $15.46 during trading on Tuesday, reaching $358.90. The stock had a trading volume of 994,659 shares, compared to its average volume of 837,098. 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 company has a market capitalization of $28.70 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 1.04 and a beta of 0.66. The stock's 50 day moving average is $357.42 and its two-hundred day moving average is $345.67. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $390.23.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings data 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 net margin of 8.23% and a return on equity of 46.34%. LPL Financial's revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $3.83 EPS. As a group, analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, May 30th. LPL Financial's dividend payout ratio (DPR) is presently 8.30%.

About LPL Financial

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.