LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Acquired by Magnolia Private Wealth LLC

Magnolia Private Wealth LLC increased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,629 shares of the financial services provider’s stock after acquiring an additional 78 shares during the period. Magnolia Private Wealth LLC’s holdings in LPL Financial were worth $533,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Graney & King LLC acquired a new stake in shares of LPL Financial during the fourth quarter worth about $30,000. MassMutual Private Wealth & Trust FSB boosted its position in LPL Financial by 63.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock valued at $33,000 after buying an additional 39 shares during the period. City Holding Co. acquired a new stake in shares of LPL Financial in the first quarter valued at $34,000. Fourth Dimension Wealth LLC acquired a new position in LPL Financial during the 4th quarter worth $40,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in LPL Financial during the 4th quarter worth about $42,000. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Trading Down 0.3%

NASDAQ LPLA opened at $379.22 on Wednesday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The stock has a market capitalization of $30.33 billion, a P/E ratio of 27.01, a P/E/G ratio of 0.94 and a beta of 0.67. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $390.23. The firm has a 50-day moving average price of $343.53 and a 200 day moving average price of $342.30.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (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 business posted $3.83 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 30th will be issued a $0.30 dividend. 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 currently 8.30%.

Analysts Set New Price Targets

LPLA has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Citigroup cut shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $400.00 price target for the company. in a report on Monday. JMP Securities raised their price objective on shares of LPL Financial from $420.00 to $440.00 and gave the company a “market outperform” rating in a report on Friday, May 9th. Wall Street Zen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Finally, Morgan Stanley raised their price target on LPL Financial from $330.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $387.69.

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.