Fort Washington Investment Advisors Inc. OH raised its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 38.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 348,101 shares of the financial services provider’s stock after acquiring an additional 96,704 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in LPL Financial were worth $104,719,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Osterweis Capital Management Inc. purchased a new stake in shares of LPL Financial in the second quarter valued at $26,000. Clearstead Advisors LLC lifted its position in LPL Financial by 3,650.0% during the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider’s stock worth $27,000 after buying an additional 73 shares during the period. Steigerwald Gordon & Koch Inc. boosted its position in shares of LPL Financial by 550.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 66 shares during the last quarter. Core Wealth Advisors LLC acquired a new stake in LPL Financial during the fourth quarter worth about $36,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of LPL Financial in the fourth quarter valued at about $50,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.
LPL Financial Stock Performance
Shares of LPL Financial stock opened at $269.03 on Friday. The firm has a market capitalization of $21.52 billion, a P/E ratio of 24.02, a P/E/G ratio of 0.55 and a beta of 0.50. LPL Financial Holdings Inc. has a fifty-two week low of $260.15 and a fifty-two week high of $403.58. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56. The company’s 50 day moving average price is $298.21 and its two-hundred day moving average price is $325.09.
LPL Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a $0.30 dividend. The ex-dividend date was Thursday, May 21st. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial’s dividend payout ratio is presently 10.71%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of LPL Financial from $380.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, May 1st. TD Cowen dropped their price target on shares of LPL Financial from $330.00 to $326.00 and set a “hold” rating on the stock in a research note on Friday, May 1st. Barclays raised their price objective on shares of LPL Financial from $369.00 to $412.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Jefferies Financial Group decreased their target price on LPL Financial from $464.00 to $383.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, JPMorgan Chase & Co. dropped their price target on LPL Financial from $396.00 to $390.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $398.86.
Read Our Latest Stock Analysis on LPL Financial
Insider Activity at LPL Financial
In other LPL Financial news, Director Aneri Jambusaria sold 308 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the transaction, the director owned 6,415 shares in the company, valued at approximately $1,962,990. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matthew J. Audette sold 1,110 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $330.01, for a total transaction of $366,311.10. Following the completion of the transaction, the chief financial officer owned 19,803 shares in the company, valued at $6,535,188.03. This trade represents a 5.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,887 shares of company stock worth $613,144 over the last quarter. 0.60% of the stock is currently owned by company insiders.
LPL Financial Profile
LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.
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