NBC Securities Inc. Boosts Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

NBC Securities Inc. raised its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 106,350.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,129 shares of the financial services provider’s stock after purchasing an additional 2,127 shares during the quarter. NBC Securities Inc.’s holdings in LPL Financial were worth $696,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Graney & King LLC purchased a new stake in shares of LPL Financial during the 4th quarter worth about $30,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 39 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of LPL Financial during the 4th quarter worth about $40,000. Itau Unibanco Holding S.A. purchased a new stake in shares of LPL Financial during the 4th quarter worth about $42,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 43 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Down 2.5%

LPL Financial stock opened at $376.23 on Thursday. LPL Financial Holdings Inc. has a fifty-two week low of $187.19 and a fifty-two week high of $390.23. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a 50 day moving average price of $339.22 and a 200 day moving average price of $340.41. The company has a market capitalization of $30.09 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share for the quarter, beating the consensus estimate of $4.54 by $0.61. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the firm earned $3.83 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 30th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 0.32%. LPL Financial’s dividend payout ratio (DPR) is presently 8.30%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased their target price on shares of LPL Financial from $330.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Citigroup decreased their price target on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Wall Street Zen upgraded shares of LPL Financial from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. JMP Securities increased 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. Finally, Wells Fargo & Company cut their price objective on shares of LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $377.50.

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.