Globeflex Capital L P Takes Position in LPL Financial Holdings Inc (LPLA)

Globeflex Capital L P bought a new stake in LPL Financial Holdings Inc (NASDAQ:LPLA) during the first quarter, Holdings Channel reports. The fund bought 34,110 shares of the financial services provider’s stock, valued at approximately $1,359,000.

Other hedge funds have also bought and sold shares of the company. Independent Advisor Alliance acquired a new stake in LPL Financial Holdings during the fourth quarter valued at about $100,000. Tyers Asset Management LLC acquired a new stake in LPL Financial Holdings during the first quarter valued at about $138,000. James Investment Research Inc. acquired a new stake in LPL Financial Holdings during the first quarter valued at about $142,000. SG Americas Securities LLC acquired a new stake in LPL Financial Holdings during the first quarter valued at about $171,000. Finally, Elkfork Partners LLC acquired a new stake in LPL Financial Holdings during the first quarter valued at about $190,000. 90.62% of the stock is currently owned by institutional investors.

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

LPL Financial Holdings Inc (NASDAQ:LPLA) traded up 1.86% during midday trading on Monday, reaching $42.24. 959,267 shares of the company’s stock were exchanged. LPL Financial Holdings Inc has a 12-month low of $20.51 and a 12-month high of $43.79. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 20.21 and a beta of 1.82. The stock’s 50-day moving average is $40.79 and its 200-day moving average is $39.29.

LPL Financial Holdings (NASDAQ:LPLA) last posted its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.30. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. LPL Financial Holdings had a net margin of 4.65% and a return on equity of 22.86%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.56 earnings per share. On average, equities analysts forecast that LPL Financial Holdings Inc will post $2.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Monday, May 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.37%. LPL Financial Holdings’s dividend payout ratio is currently 47.85%.

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LPLA has been the topic of several recent analyst reports. Nomura raised LPL Financial Holdings from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $51.00 in a research note on Friday, April 28th. Citigroup Inc. raised LPL Financial Holdings from a “neutral” rating to a “buy” rating in a research note on Friday, April 28th. Instinet raised LPL Financial Holdings from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $51.00 in a research note on Friday, April 28th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $48.00 target price on shares of LPL Financial Holdings in a research note on Tuesday, June 6th. Finally, Goldman Sachs Group, Inc. (The) raised LPL Financial Holdings from a “neutral” rating to a “conviction-buy” rating and raised their target price for the stock from $44.00 to $47.00 in a research note on Monday, March 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. LPL Financial Holdings presently has an average rating of “Buy” and a consensus price target of $41.80.

In other news, CEO Dan H. Arnold sold 15,428 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $39.14, for a total value of $603,851.92. Following the sale, the chief executive officer now owns 230,112 shares in the company, valued at $9,006,583.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William P. Jr. Morrissey sold 32,150 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $39.34, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 5.70% of the company’s stock.

LPL Financial Holdings Company Profile

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.

Want to see what other hedge funds are holding LPLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LPL Financial Holdings Inc (NASDAQ:LPLA).

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