Steward Partners Investment Advisory LLC Acquires 155 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Steward Partners Investment Advisory LLC boosted its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) by 20.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 922 shares of the financial services provider’s stock after acquiring an additional 155 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in LPL Financial were worth $210,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Amalgamated Bank boosted its stake in shares of LPL Financial by 14.9% in the 3rd quarter. Amalgamated Bank now owns 10,457 shares of the financial services provider’s stock valued at $2,485,000 after purchasing an additional 1,355 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of LPL Financial by 6.4% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 1,448 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 87 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of LPL Financial by 3.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 35,343 shares of the financial services provider’s stock valued at $8,399,000 after purchasing an additional 1,129 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of LPL Financial by 27.4% in the 3rd quarter. Van ECK Associates Corp now owns 17,674 shares of the financial services provider’s stock valued at $4,200,000 after purchasing an additional 3,798 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of LPL Financial by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 6,711 shares of the financial services provider’s stock valued at $1,590,000 after purchasing an additional 110 shares during the last quarter. 95.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on LPLA. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. UBS Group upped their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Raymond James initiated coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, TD Cowen raised their price target on shares of LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $276.20.

Get Our Latest Analysis on LPLA

LPL Financial Stock Down 0.0 %

LPL Financial stock opened at $280.06 on Monday. LPL Financial Holdings Inc. has a 1-year low of $195.59 and a 1-year high of $287.80. The firm has a market capitalization of $20.92 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 1.12 and a beta of 0.89. The firm’s fifty day moving average price is $269.46 and its two-hundred day moving average price is $252.51. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70.

LPL Financial (NASDAQ:LPLAGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.44. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.68 billion. On average, equities research analysts predict that LPL Financial Holdings Inc. will post 15.85 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is 9.06%.

About LPL Financial

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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