Alpine Bank Wealth Management Takes Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Alpine Bank Wealth Management bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 232 shares of the financial services provider’s stock, valued at approximately $76,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners lifted its holdings in LPL Financial by 26.0% during the fourth quarter. Boston Partners now owns 3,905,541 shares of the financial services provider’s stock valued at $1,278,454,000 after purchasing an additional 805,637 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of LPL Financial by 20.6% during the 4th quarter. Janus Henderson Group PLC now owns 3,050,529 shares of the financial services provider’s stock valued at $996,032,000 after purchasing an additional 522,032 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of LPL Financial by 2.2% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,660,736 shares of the financial services provider’s stock valued at $868,757,000 after buying an additional 57,485 shares in the last quarter. Geode Capital Management LLC boosted its holdings in LPL Financial by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,459,942 shares of the financial services provider’s stock worth $475,946,000 after buying an additional 23,111 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in LPL Financial by 57.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,115,708 shares of the financial services provider’s stock worth $364,290,000 after buying an additional 405,341 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Stock Up 1.9%

Shares of LPLA opened at $360.95 on Thursday. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.31 and a quick ratio of 2.31. The stock has a market capitalization of $28.87 billion, a price-to-earnings ratio of 24.98, a price-to-earnings-growth ratio of 0.97 and a beta of 0.67. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $390.23. The business’s 50 day simple moving average is $359.33 and its 200-day simple moving average is $345.84.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.54 by $0.61. LPL Financial had a net margin of 8.23% and a return on equity of 46.34%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the firm earned $3.83 earnings per share. LPL Financial’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.33%. LPL Financial’s dividend payout ratio (DPR) is presently 8.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LPLA shares. Morgan Stanley raised their price target on LPL Financial from $330.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Citigroup downgraded LPL Financial from a “buy” rating to a “neutral” rating and set a $400.00 target price on the stock. in a research note on Monday, June 9th. JMP Securities boosted their price target on LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a report on Friday, May 9th. Redburn Atlantic upgraded LPL Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $420.00 to $460.00 in a research note on Monday, June 9th. Finally, Barclays lifted their price objective on shares of LPL Financial from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, June 9th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.