Farther Finance Advisors LLC trimmed its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 11.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 382 shares of the financial services provider’s stock after selling 50 shares during the period. Farther Finance Advisors LLC’s holdings in LPL Financial were worth $128,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in LPL Financial during the 4th quarter valued at $305,747,000. Raymond James Financial Inc. bought a new stake in shares of LPL Financial during the fourth quarter worth $295,982,000. Boston Partners boosted its stake 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 valued at $1,278,454,000 after purchasing an additional 805,637 shares during the period. Janus Henderson Group PLC boosted its stake in shares of LPL Financial by 20.6% during 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 purchasing an additional 522,032 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in shares of LPL Financial in the fourth quarter worth about $153,946,000. 95.66% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on LPLA. Wall Street Zen lowered LPL Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. JMP Securities upped their target price on LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a report on Friday, May 9th. Wells Fargo & Company cut their price target on LPL Financial from $405.00 to $342.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Citigroup downgraded LPL Financial from a “buy” rating to a “neutral” rating and set a $400.00 price objective for the company. in a report on Monday, June 9th. Finally, Redburn Atlantic upgraded shares of LPL Financial from a “neutral” rating to a “buy” rating and increased their target price 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 given a buy rating to the stock. According to data from MarketBeat.com, LPL Financial presently has an average rating of “Moderate Buy” and a consensus price target of $387.69.
Get Our Latest Analysis on LPL Financial
LPL Financial Trading Up 0.1%
NASDAQ LPLA opened at $379.58 on Friday. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.82. The firm has a 50-day moving average price of $356.15 and a 200 day moving average price of $345.12. The stock has a market capitalization of $30.36 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.04 and a beta of 0.67. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $390.23.
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, topping analysts’ consensus estimates of $4.54 by $0.61. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.83 EPS. Equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.
LPL Financial Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 0.32%. LPL Financial’s dividend payout ratio (DPR) is presently 8.30%.
LPL Financial Profile
(Free Report)
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.
Further Reading
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