LPL Financial Holdings Inc. (NASDAQ:LPLA) Shares Purchased by Global Retirement Partners LLC

Posted by Defense World Staff on Aug 12th, 2023

Global Retirement Partners LLC increased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 19.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 659 shares of the financial services provider’s stock after purchasing an additional 109 shares during the quarter. Global Retirement Partners LLC’s holdings in LPL Financial were worth $124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MCF Advisors LLC acquired a new stake in shares of LPL Financial during the first quarter worth about $26,000. First Manhattan Co. acquired a new stake in shares of LPL Financial during the fourth quarter worth about $27,000. U.S. Capital Wealth Advisors LLC purchased a new position in LPL Financial during the fourth quarter valued at approximately $32,000. Steward Financial Group LLC purchased a new position in LPL Financial during the fourth quarter valued at approximately $37,000. Finally, Whittier Trust Co. purchased a new position in LPL Financial during the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

LPL Financial Stock Up 0.2 %

Shares of LPLA opened at $225.62 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.74 and a current ratio of 1.74. LPL Financial Holdings Inc. has a one year low of $179.00 and a one year high of $271.56. The stock has a market capitalization of $17.21 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 0.72 and a beta of 0.92. The stock has a 50 day moving average price of $219.68 and a 200 day moving average price of $216.20.

LPL Financial (NASDAQ:LPLA – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $3.94 EPS for the quarter, topping the consensus estimate of $3.87 by $0.07. LPL Financial had a return on equity of 59.52% and a net margin of 12.53%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the business earned $2.24 earnings per share. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. Equities research analysts forecast that LPL Financial Holdings Inc. will post 16.34 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Thursday, August 10th. LPL Financial’s payout ratio is 8.16%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citigroup lifted their price target on LPL Financial from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Jefferies Financial Group lifted their price target on LPL Financial from $246.00 to $253.00 in a research report on Monday, July 10th. Bank of America lifted their price target on LPL Financial from $232.00 to $233.00 in a research report on Sunday, July 30th. Credit Suisse Group reduced their price target on LPL Financial from $205.00 to $192.00 in a research report on Friday, April 28th. Finally, Morgan Stanley boosted their price objective on LPL Financial from $238.00 to $243.00 and gave the company an “equal weight” rating in a research report on Monday, July 31st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $245.67.

Read Our Latest Analysis on LPLA

LPL Financial Company Profile

(Free Report)

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, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.