Diversified Trust Co Acquires 113 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Diversified Trust Co grew its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,350 shares of the financial services provider’s stock after purchasing an additional 113 shares during the period. Diversified Trust Co’s holdings in LPL Financial were worth $2,077,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its stake in LPL Financial by 5.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 8,326 shares of the financial services provider’s stock worth $2,724,000 after purchasing an additional 397 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in LPL Financial by 7.1% during the first quarter. Sequoia Financial Advisors LLC now owns 1,331 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 88 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in LPL Financial during the first quarter worth about $76,000. Golden State Wealth Management LLC lifted its stake in LPL Financial by 102.2% during the first quarter. Golden State Wealth Management LLC now owns 1,011 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 511 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in LPL Financial by 38.9% during the first quarter. Bessemer Group Inc. now owns 2,619 shares of the financial services provider’s stock worth $856,000 after purchasing an additional 733 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Up 0.2%

Shares of NASDAQ:LPLA opened at $364.96 on Friday. LPL Financial Holdings Inc. has a 1 year low of $187.19 and a 1 year high of $390.23. The company has a market cap of $29.19 billion, a PE ratio of 25.26, a P/E/G ratio of 1.00 and a beta of 0.67. 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’s 50-day moving average is $361.67 and its 200 day moving average is $346.42.

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, topping analysts’ consensus estimates of $4.54 by $0.61. LPL Financial had a return on equity of 46.34% and a net margin of 8.23%. The firm 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 business earned $3.83 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were issued a dividend of $0.30 per share. The ex-dividend date 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 8.30%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LPLA. Wall Street Zen lowered LPL Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Wells Fargo & Company decreased their price objective on LPL Financial from $405.00 to $342.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Barclays lifted their price objective on LPL Financial from $400.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, June 9th. Morgan Stanley lifted their price objective on LPL Financial from $330.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Finally, JMP Securities lifted their price objective on LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average 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.