Avanza Fonder AB Boosts Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Avanza Fonder AB boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 25.4% in the first quarter, Holdings Channel.com reports. The fund owned 5,607 shares of the financial services provider’s stock after acquiring an additional 1,134 shares during the quarter. Avanza Fonder AB’s holdings in LPL Financial were worth $1,897,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LPLA. Yousif Capital Management LLC raised its position in shares of LPL Financial by 5.1% in the 4th quarter. Yousif Capital Management LLC now owns 1,783 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 86 shares in the last quarter. Choreo LLC grew its stake in LPL Financial by 60.6% during the 4th quarter. Choreo LLC now owns 1,698 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 641 shares during the last quarter. Apollon Wealth Management LLC grew its stake in LPL Financial by 6.9% during the 4th quarter. Apollon Wealth Management LLC now owns 972 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 63 shares during the last quarter. Kingsview Wealth Management LLC purchased a new stake in LPL Financial during the 4th quarter valued at about $242,000. Finally, Entropy Technologies LP purchased a new stake in shares of LPL Financial in the fourth quarter worth about $422,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Down 0.6%

LPLA opened at $377.08 on Thursday. The business’s 50-day simple moving average is $345.41 and its 200-day simple moving average is $342.54. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $390.23. The stock has a market capitalization of $30.16 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 0.94 and a beta of 0.67.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the previous year, the firm earned $3.83 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. Analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Friday, May 30th. LPL Financial’s dividend payout ratio (DPR) is currently 8.30%.

Analysts Set New Price Targets

LPLA has been the topic of a number of recent analyst reports. Citigroup downgraded LPL Financial from a “buy” rating to a “neutral” rating and set a $400.00 price target on the stock. in a research report on Monday. Redburn Atlantic raised LPL Financial from a “neutral” rating to a “buy” rating and raised their target price for the stock from $420.00 to $460.00 in a research note on Monday. Wall Street Zen raised LPL Financial from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. JMP Securities raised their price target on LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company decreased their target price on LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $387.69.

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.