Morningstar Investment Management LLC boosted its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 42.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,849 shares of the financial services provider’s stock after purchasing an additional 2,346 shares during the period. Morningstar Investment Management LLC’s holdings in LPL Financial were worth $2,361,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LPLA. Goldstein Advisors LLC boosted its position in LPL Financial by 4.8% in the 4th quarter. Goldstein Advisors LLC now owns 634 shares of the financial services provider’s stock valued at $226,000 after buying an additional 29 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in shares of LPL Financial by 4.1% during the fourth quarter. Frank Rimerman Advisors LLC now owns 785 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 31 shares during the last quarter. Coastal Bridge Advisors LLC increased its position in shares of LPL Financial by 0.6% during the fourth quarter. Coastal Bridge Advisors LLC now owns 5,475 shares of the financial services provider’s stock worth $1,956,000 after acquiring an additional 31 shares during the last quarter. Natural Investments LLC lifted its stake in shares of LPL Financial by 4.8% in the fourth quarter. Natural Investments LLC now owns 727 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 33 shares in the last quarter. Finally, Root Financial Partners LLC lifted its stake in shares of LPL Financial by 1.4% in the fourth quarter. Root Financial Partners LLC now owns 2,318 shares of the financial services provider’s stock worth $828,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.
LPL Financial Stock Performance
LPLA stock opened at $328.55 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 1.26. The firm has a market cap of $26.28 billion, a P/E ratio of 29.33, a P/E/G ratio of 0.64 and a beta of 0.50. LPL Financial Holdings Inc. has a 12-month low of $260.15 and a 12-month high of $403.58. The stock’s 50 day simple moving average is $296.47 and its 200 day simple moving average is $317.14.
LPL Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Thursday, May 21st. LPL Financial’s dividend payout ratio (DPR) is presently 10.71%.
Wall Street Analyst Weigh In
A number of brokerages recently commented on LPLA. Jefferies Financial Group reduced their price target on LPL Financial from $464.00 to $383.00 and set a “buy” rating for the company in a report on Monday, April 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LPL Financial in a research report on Monday, April 27th. UBS Group reduced their target price on LPL Financial from $395.00 to $391.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Morgan Stanley raised their price target on shares of LPL Financial from $374.00 to $387.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of LPL Financial in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $350.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $397.92.
View Our Latest Stock Report on LPLA
Insider Activity
In other news, Director Aneri Jambusaria sold 308 shares of LPL Financial stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $306.00, for a total value of $94,248.00. Following the completion of the transaction, the director directly owned 6,415 shares of the company’s stock, valued at approximately $1,962,990. The trade was a 4.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.
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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