626 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Purchased by PUREfi Wealth LLC

PUREfi Wealth LLC bought a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 1st quarter, HoldingsChannel.com reports. The firm bought 626 shares of the financial services provider’s stock, valued at approximately $205,000.

A number of other institutional investors have also recently made changes to their positions in LPLA. Asset Management One Co. Ltd. lifted its holdings in LPL Financial by 1.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 31,360 shares of the financial services provider’s stock valued at $10,409,000 after purchasing an additional 556 shares in the last quarter. Principal Securities Inc. raised its position in shares of LPL Financial by 9.9% in the fourth quarter. Principal Securities Inc. now owns 1,051 shares of the financial services provider’s stock valued at $343,000 after buying an additional 95 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of LPL Financial by 163.1% in the fourth quarter. Principal Financial Group Inc. now owns 66,869 shares of the financial services provider’s stock valued at $21,833,000 after buying an additional 41,451 shares during the last quarter. Sanctuary Advisors LLC boosted its position in LPL Financial by 1.4% during the fourth quarter. Sanctuary Advisors LLC now owns 16,632 shares of the financial services provider’s stock worth $6,018,000 after acquiring an additional 233 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in LPL Financial by 20.1% during the fourth quarter. CIBC Asset Management Inc now owns 3,301 shares of the financial services provider’s stock worth $1,078,000 after acquiring an additional 552 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on LPLA. Morgan Stanley increased their price target on LPL Financial from $330.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. JMP Securities raised their target price on LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a research note on Friday, May 9th. Redburn Atlantic upgraded LPL Financial from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $420.00 to $460.00 in a report on Monday, June 9th. Citigroup lowered shares of 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, Barclays raised 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 equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, LPL Financial currently has an average rating of “Moderate Buy” and an average price target of $387.69.

LPL Financial Stock Performance

NASDAQ:LPLA opened at $378.01 on Wednesday. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $390.23. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31. The company has a 50 day moving average price of $352.02 and a 200 day moving average price of $344.10. The stock has a market capitalization of $30.23 billion, a P/E ratio of 26.16, a PEG ratio of 1.04 and a beta of 0.67.

LPL Financial (NASDAQ:LPLA) last released its quarterly 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 46.34% and a net margin of 8.23%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same period in the prior year, the firm earned $3.83 earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. LPL Financial’s dividend payout ratio (DPR) is presently 8.30%.

LPL Financial Profile

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.