Choreo LLC Has $1.11 Million Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Choreo LLC raised its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 100.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,400 shares of the financial services provider’s stock after buying an additional 1,702 shares during the quarter. Choreo LLC’s holdings in LPL Financial were worth $1,112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LPLA. Principal Financial Group Inc. grew its holdings in LPL Financial by 1,453.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,038,683 shares of the financial services provider’s stock valued at $339,795,000 after buying an additional 971,814 shares during the last quarter. Norges Bank acquired a new stake in LPL Financial in the 4th quarter valued at approximately $305,747,000. Jennison Associates LLC grew its holdings in LPL Financial by 786.2% in the 1st quarter. Jennison Associates LLC now owns 959,371 shares of the financial services provider’s stock valued at $313,849,000 after buying an additional 851,115 shares during the last quarter. Janus Henderson Group PLC grew its holdings in LPL Financial by 20.6% in 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 buying an additional 522,032 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in LPL Financial in the 4th quarter valued at approximately $153,946,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Up 0.9%

LPLA opened at $380.04 on Friday. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $396.25. The firm has a market cap of $30.40 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 0.92 and a beta of 0.64. The firm’s 50-day simple moving average is $377.67 and its 200-day simple moving average is $352.98. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31.

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

LPL Financial Announces Dividend

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. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, May 30th. LPL Financial’s payout ratio is currently 8.30%.

Analyst Ratings Changes

LPLA has been the topic of a number of research analyst reports. Wall Street Zen lowered LPL Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. Citigroup downgraded LPL Financial from a “neutral” rating to a “sell” rating and set a $80.00 price objective for the company. in a research report on Wednesday, July 9th. Morgan Stanley reiterated an “overweight” rating and issued a $490.00 price objective (up previously from $450.00) on shares of LPL Financial in a research report on Tuesday, July 15th. TD Cowen downgraded LPL Financial from a “strong-buy” rating to a “hold” rating and reduced their price objective for the stock from $406.00 to $403.00 in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company raised their price objective on LPL Financial from $402.00 to $420.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $372.15.

Insider Transactions at LPL Financial

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $382.63, for a total value of $573,945.00. Following the transaction, the director owned 20,620 shares of the company’s stock, valued at approximately $7,889,830.60. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

About LPL Financial

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.