Wellington Management Group LLP Has $49.20 Million Stock Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Wellington Management Group LLP lowered its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 33.7% during the fourth quarter, Holdings Channel reports. The firm owned 150,670 shares of the financial services provider’s stock after selling 76,487 shares during the period. Wellington Management Group LLP’s holdings in LPL Financial were worth $49,195,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Boston Partners lifted its holdings in LPL Financial by 26.0% in the 4th quarter. Boston Partners now owns 3,905,541 shares of the financial services provider’s stock worth $1,278,454,000 after purchasing an additional 805,637 shares during the last quarter. Janus Henderson Group PLC lifted its position in LPL Financial by 20.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider’s stock worth $996,032,000 after acquiring an additional 522,032 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of LPL Financial by 2.2% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider’s stock valued at $868,757,000 after purchasing an additional 57,485 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of LPL Financial by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider’s stock worth $475,946,000 after purchasing an additional 23,111 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in LPL Financial by 27.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock valued at $296,635,000 after buying an additional 276,166 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Morgan Stanley increased their target price on shares of LPL Financial from $330.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Wells Fargo & Company dropped their price objective on shares of LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Citigroup decreased their price target on LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Wall Street Zen raised shares of LPL Financial from a “hold” rating to a “buy” rating in a report on Thursday. Thirteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, LPL Financial currently has a consensus rating of “Buy” and a consensus price target of $377.50.

LPL Financial Trading Up 1.7%

LPLA opened at $387.55 on Friday. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $390.23. The firm has a 50-day moving average price of $335.66 and a two-hundred day moving average price of $338.55. The stock has a market capitalization of $30.99 billion, a PE ratio of 27.60, a PEG ratio of 0.94 and a beta of 0.65. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last released its earnings results 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. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $3.83 EPS. As a group, equities analysts anticipate that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, May 30th. LPL Financial’s dividend payout ratio is 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.