Utah Retirement Systems raised its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,176 shares of the financial services provider’s stock after purchasing an additional 500 shares during the period. Utah Retirement Systems’ holdings in LPL Financial Holdings were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Public Employees Retirement Association of Colorado boosted its holdings in shares of LPL Financial Holdings by 1.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock valued at $118,000 after buying an additional 52 shares in the last quarter. Tyers Asset Management LLC acquired a new position in shares of LPL Financial Holdings in the 1st quarter valued at $138,000. SG Americas Securities LLC acquired a new position in shares of LPL Financial Holdings in the 1st quarter valued at $171,000. Elkfork Partners LLC acquired a new position in shares of LPL Financial Holdings in the 1st quarter valued at $190,000. Finally, Meadow Creek Investment Management LLC acquired a new position in shares of LPL Financial Holdings in the 1st quarter valued at $242,000. 89.73% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on LPLA. SunTrust Banks, Inc. upgraded shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and upped their target price for the company from $49.00 to $55.00 in a report on Wednesday, August 16th. Nomura upped their target price on shares of LPL Financial Holdings from $53.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, August 17th. J P Morgan Chase & Co restated a “neutral” rating and issued a $51.00 target price (up previously from $48.00) on shares of LPL Financial Holdings in a report on Friday, August 18th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $44.00 target price on shares of LPL Financial Holdings in a report on Tuesday, July 4th. Finally, Morgan Stanley restated an “underweight” rating and issued a $38.00 target price (up previously from $35.00) on shares of LPL Financial Holdings in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $48.20.
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LPL Financial Holdings Inc. (NASDAQ:LPLA) opened at 47.08 on Wednesday. The stock has a market cap of $4.23 billion, a P/E ratio of 20.45 and a beta of 1.84. The firm’s 50-day moving average is $45.95 and its 200-day moving average is $42.03. LPL Financial Holdings Inc. has a 12 month low of $28.38 and a 12 month high of $48.56.
LPL Financial Holdings (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that LPL Financial Holdings Inc. will post $2.40 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Tuesday, August 8th. LPL Financial Holdings’s dividend payout ratio (DPR) is 43.48%.
LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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