Fifth Third Bancorp Raises Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Fifth Third Bancorp increased its position in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1,395.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 658 shares of the financial services provider’s stock after purchasing an additional 614 shares during the period. Fifth Third Bancorp’s holdings in LPL Financial were worth $215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Magnolia Private Wealth LLC grew its stake in LPL Financial by 5.0% in the first quarter. Magnolia Private Wealth LLC now owns 1,629 shares of the financial services provider’s stock worth $533,000 after purchasing an additional 78 shares during the period. Handelsbanken Fonder AB grew its stake in LPL Financial by 10.4% in the first quarter. Handelsbanken Fonder AB now owns 21,181 shares of the financial services provider’s stock worth $6,929,000 after purchasing an additional 2,000 shares during the period. SG Americas Securities LLC purchased a new stake in LPL Financial in the first quarter worth $2,286,000. Avanza Fonder AB grew its stake in LPL Financial by 25.4% in the first quarter. Avanza Fonder AB now owns 5,607 shares of the financial services provider’s stock worth $1,897,000 after purchasing an additional 1,134 shares during the period. Finally, GAMMA Investing LLC grew its stake in LPL Financial by 33.3% in the first quarter. GAMMA Investing LLC now owns 476 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 119 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Trading Up 0.3%

LPL Financial stock opened at $379.29 on Thursday. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.31 and a quick ratio of 2.31. 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 $30.34 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.04 and a beta of 0.67. The business’s fifty day moving average is $353.23 and its 200 day moving average is $344.35.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $5.15 EPS for the quarter, beating the consensus estimate 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 last year, the firm posted $3.83 earnings per share. LPL Financial’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen cut LPL Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Morgan Stanley increased their target price on LPL Financial from $330.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Barclays increased their target price on LPL Financial from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, June 9th. Citigroup cut LPL Financial from a “buy” rating to a “neutral” rating and set a $400.00 target price on the stock. in a research note on Monday, June 9th. Finally, JMP Securities increased 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. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.