Dimensional Fund Advisors LP raised its stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,414,114 shares of the financial services provider’s stock after buying an additional 80,173 shares during the period. Dimensional Fund Advisors LP owned 1.56% of LPL Financial Holdings worth $56,324,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of LPLA. Norges Bank acquired a new position in shares of LPL Financial Holdings during the fourth quarter valued at about $42,914,000. AQR Capital Management LLC purchased a new position in LPL Financial Holdings during the fourth quarter valued at about $1,201,000. Elkfork Partners LLC purchased a new position in LPL Financial Holdings during the first quarter valued at about $190,000. Waratah Capital Advisors Ltd. purchased a new position in LPL Financial Holdings during the first quarter valued at about $379,000. Finally, Legal & General Group Plc raised its position in LPL Financial Holdings by 37.8% in the first quarter. Legal & General Group Plc now owns 72,661 shares of the financial services provider’s stock valued at $2,893,000 after buying an additional 19,923 shares in the last quarter. 90.66% of the stock is currently owned by institutional investors.
Shares of LPL Financial Holdings Inc. (LPLA) traded up 1.70% on Friday, hitting $46.11. 1,178,232 shares of the company’s stock were exchanged. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 20.03 and a beta of 1.84. The company’s 50-day moving average price is $43.07 and its 200 day moving average price is $40.73. LPL Financial Holdings Inc. has a 12-month low of $25.80 and a 12-month high of $46.62.
LPL Financial Holdings (NASDAQ:LPLA) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.08. LPL Financial Holdings had a net margin of 5.10% and a return on equity of 26.45%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the business earned $0.53 EPS. The business’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts predict that LPL Financial Holdings Inc. will post $2.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, August 8th. LPL Financial Holdings’s dividend payout ratio (DPR) is presently 43.48%.
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Several research firms have issued reports on LPLA. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $44.00 price target on shares of LPL Financial Holdings in a report on Tuesday, July 4th. Nomura reaffirmed a “hold” rating and issued a $46.00 price target on shares of LPL Financial Holdings in a report on Sunday, April 9th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $42.00 price target on shares of LPL Financial Holdings in a report on Tuesday, July 4th. Zacks Investment Research raised shares of LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, July 4th. Finally, BidaskClub downgraded shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. LPL Financial Holdings currently has a consensus rating of “Hold” and an average target price of $42.73.
In other news, insider William P. Jr. Morrissey sold 32,150 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $39.34, for a total value of $1,264,781.00. Following the completion of the sale, the insider now owns 49,691 shares in the company, valued at approximately $1,954,843.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.70% of the stock is currently owned by company insiders.
About LPL Financial Holdings
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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