Retireful LLC Reduces Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Retireful LLC reduced its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 17.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,680 shares of the financial services provider’s stock after selling 780 shares during the period. LPL Financial comprises 1.2% of Retireful LLC’s portfolio, making the stock its 25th largest holding. Retireful LLC’s holdings in LPL Financial were worth $1,240,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Truist Financial Corp grew its holdings in LPL Financial by 7.9% during the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider’s stock valued at $62,740,000 after purchasing an additional 14,106 shares during the period. Bank of Montreal Can increased its holdings in LPL Financial by 46.9% in the 4th quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider’s stock worth $19,561,000 after acquiring an additional 19,126 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in LPL Financial by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider’s stock valued at $109,625,000 after purchasing an additional 13,936 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of LPL Financial by 27.6% in the third quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after purchasing an additional 276,166 shares in the last quarter. Finally, Dynasty Wealth Management LLC raised its position in shares of LPL Financial by 58.8% during the 4th quarter. Dynasty Wealth Management LLC now owns 6,165 shares of the financial services provider’s stock valued at $2,013,000 after purchasing an additional 2,283 shares during the period. Institutional investors own 95.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LPLA shares. Wells Fargo & Company decreased their price target on LPL Financial from $405.00 to $342.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Barclays boosted their price target on LPL Financial from $365.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Morgan Stanley lifted their price target on shares of LPL Financial from $330.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. JMP Securities boosted their target price on shares of LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a report on Friday, May 9th. Finally, Citigroup reduced their price objective on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $377.50.

LPL Financial Stock Down 2.5%

Shares of NASDAQ:LPLA opened at $376.23 on Thursday. The firm has a market cap of $30.09 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 0.94 and a beta of 0.65. LPL Financial Holdings Inc. has a 12-month low of $187.19 and a 12-month high of $390.23. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock’s 50-day moving average price is $339.22 and its two-hundred day moving average price is $340.41.

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, topping analysts’ consensus estimates of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the firm posted $3.83 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, 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 announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, May 30th. LPL Financial’s dividend payout ratio (DPR) is presently 8.30%.

LPL Financial Company 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.