10,573 Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA) Acquired by Seven Eight Capital LP

Seven Eight Capital LP acquired a new position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLAFree Report) during the 4th quarter, Holdings Channel reports. The fund acquired 10,573 shares of the financial services provider’s stock, valued at approximately $2,407,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new position in LPL Financial during the fourth quarter worth $25,000. GAMMA Investing LLC bought a new stake in shares of LPL Financial in the fourth quarter valued at about $30,000. Gladius Capital Management LP bought a new stake in shares of LPL Financial in the fourth quarter valued at about $30,000. American National Bank bought a new stake in shares of LPL Financial in the fourth quarter valued at about $32,000. Finally, Cary Street Partners Investment Advisory LLC raised its stake in LPL Financial by 770.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 261 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 231 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Stock Down 0.0 %

Shares of NASDAQ LPLA traded down $0.12 during mid-day trading on Friday, reaching $280.06. 407,708 shares of the company’s stock traded hands, compared to its average volume of 483,105. The stock has a market cap of $20.92 billion, a P/E ratio of 21.15, a PEG ratio of 1.12 and a beta of 0.89. The business has a 50-day simple moving average of $269.46 and a 200 day simple moving average of $252.15. LPL Financial Holdings Inc. has a 1-year low of $195.59 and a 1-year high of $287.80. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.84 and a quick ratio of 1.84.

LPL Financial (NASDAQ:LPLAGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.44. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.68 billion. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. On average, analysts expect that LPL Financial Holdings Inc. will post 15.85 EPS for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a $0.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.20 dividend on an annualized basis and a yield of 0.43%. LPL Financial’s dividend payout ratio is presently 9.06%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LPLA. UBS Group boosted their price target on LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. TD Cowen raised their target price on LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. raised their price target on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a report on Tuesday, April 2nd. Finally, Raymond James began coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $276.20.

Get Our Latest Stock Analysis on LPLA

LPL Financial Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for LPL Financial (NASDAQ:LPLA)

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