LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 7.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,017 shares of the financial services provider’s stock after acquiring an additional 552 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in LPL Financial were worth $2,623,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Net Worth Advisory Group increased its stake in shares of LPL Financial by 31.0% during the first quarter. Net Worth Advisory Group now owns 1,353 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 320 shares during the period. Fifth Third Bancorp increased its stake in shares of LPL Financial by 1,395.5% during the first quarter. Fifth Third Bancorp now owns 658 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 614 shares during the period. Magnolia Private Wealth LLC increased its stake in shares of LPL Financial by 5.0% during the first quarter. Magnolia Private Wealth LLC now owns 1,629 shares of the financial services provider’s stock valued at $533,000 after acquiring an additional 78 shares during the period. Handelsbanken Fonder AB increased its stake in shares of LPL Financial by 10.4% during the first quarter. Handelsbanken Fonder AB now owns 21,181 shares of the financial services provider’s stock valued at $6,929,000 after acquiring an additional 2,000 shares during the period. Finally, SG Americas Securities LLC acquired a new position in LPL Financial in the first quarter worth approximately $2,286,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on LPLA. Citigroup lowered shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $400.00 price target on the stock. in a research report on Monday, June 9th. Redburn Atlantic upgraded shares of 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 research report on Monday, June 9th. Morgan Stanley lifted their price target on shares of LPL Financial from $330.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. JMP Securities lifted their price target on shares of LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a research report on Friday, May 9th. Finally, Wall Street Zen lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $387.69.

LPL Financial Trading Up 0.2%

LPL Financial stock opened at $364.96 on Friday. The company has a 50 day moving average price of $361.67 and a 200 day moving average price of $346.42. LPL Financial Holdings Inc. has a 52 week low of $187.19 and a 52 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 firm has a market capitalization of $29.19 billion, a price-to-earnings ratio of 25.26, a P/E/G ratio of 1.00 and a beta of 0.67.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data 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. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.63 billion. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $3.83 EPS. Research analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The business also recently announced 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, May 30th. LPL Financial’s dividend payout ratio (DPR) is currently 8.30%.

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.