Golden State Wealth Management LLC Acquires 511 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Golden State Wealth Management LLC raised its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 102.2% in the 1st quarter, Holdings Channel reports. The firm owned 1,011 shares of the financial services provider’s stock after purchasing an additional 511 shares during the quarter. Golden State Wealth Management LLC’s holdings in LPL Financial were worth $331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amalgamated Bank raised its holdings in shares of LPL Financial by 1.2% in the fourth quarter. Amalgamated Bank now owns 5,662 shares of the financial services provider’s stock valued at $1,849,000 after acquiring an additional 69 shares in the last quarter. National Pension Service raised its holdings in shares of LPL Financial by 1.7% in the fourth quarter. National Pension Service now owns 119,724 shares of the financial services provider’s stock valued at $39,091,000 after acquiring an additional 2,000 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in shares of LPL Financial in the fourth quarter valued at about $167,000. Mn Services Vermogensbeheer B.V. raised its holdings in shares of LPL Financial by 2.4% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 29,800 shares of the financial services provider’s stock valued at $9,730,000 after acquiring an additional 700 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of LPL Financial in the fourth quarter valued at about $539,000. 95.66% of the stock is currently owned by institutional investors.

LPL Financial Trading Up 0.2%

LPL Financial stock opened at $364.96 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31. The stock has a market cap of $29.19 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 1.00 and a beta of 0.67. The stock has a 50-day moving average of $361.67 and a two-hundred day moving average of $346.42. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $390.23.

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

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. LPL Financial’s payout ratio is 8.30%.

Analysts Set New Price Targets

Several analysts recently weighed in on LPLA shares. Redburn Atlantic upgraded LPL Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $420.00 to $460.00 in a report on Monday, June 9th. Wall Street Zen downgraded LPL Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. JMP Securities lifted their price objective on LPL Financial from $420.00 to $440.00 and gave the company a “market outperform” rating in a report on Friday, May 9th. Barclays lifted their target price on LPL Financial from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Finally, Wells Fargo & Company reduced their target price 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. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, LPL Financial has a consensus rating of “Moderate Buy” and an average price target 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.