City Holding Co. Acquires New Stake in LPL Financial Holdings Inc. (NASDAQ:LPLA)

City Holding Co. acquired a new stake in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 1st quarter, Holdings Channel reports. The fund acquired 103 shares of the financial services provider’s stock, valued at approximately $34,000.

Several other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in LPL Financial by 27.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,275,136 shares of the financial services provider’s stock worth $296,635,000 after buying an additional 276,166 shares in the last quarter. Yousif Capital Management LLC lifted its position in LPL Financial by 5.1% during the 4th quarter. Yousif Capital Management LLC now owns 1,783 shares of the financial services provider’s stock worth $582,000 after buying an additional 86 shares in the last quarter. Choreo LLC lifted its position in LPL Financial by 60.6% during the 4th quarter. Choreo LLC now owns 1,698 shares of the financial services provider’s stock worth $555,000 after buying an additional 641 shares in the last quarter. Apollon Wealth Management LLC lifted its position in LPL Financial by 6.9% during the 4th quarter. Apollon Wealth Management LLC now owns 972 shares of the financial services provider’s stock worth $317,000 after buying an additional 63 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in LPL Financial during the 4th quarter worth about $242,000. 95.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LPLA shares. Morgan Stanley boosted their price target on shares of LPL Financial from $330.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. Redburn Atlantic raised shares of LPL Financial from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $420.00 to $460.00 in a research report on Monday. Citigroup cut shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $400.00 price target on the stock. in a research report on Monday. Wall Street Zen raised shares of LPL Financial from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. Finally, JMP Securities boosted their price objective on shares of LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $387.69.

LPL Financial Stock Down 0.3%

LPL Financial stock opened at $379.22 on Wednesday. The firm has a market capitalization of $30.33 billion, a PE ratio of 27.01, a P/E/G ratio of 0.94 and a beta of 0.67. The company’s 50-day moving average is $343.53 and its 200-day moving average is $342.30. 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 current ratio of 2.16 and a quick ratio of 2.16.

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

LPL Financial Announces Dividend

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