ICA Group Wealth Management LLC Purchases New Shares in LPL Financial Holdings Inc. (NASDAQ:LPLA)

ICA Group Wealth Management LLC purchased a new stake in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 389 shares of the financial services provider’s stock, valued at approximately $89,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in LPL Financial during the 4th quarter valued at $25,000. GAMMA Investing LLC purchased a new stake in LPL Financial during the 4th quarter valued at $30,000. Gladius Capital Management LP purchased a new stake in LPL Financial during the 4th quarter valued at $30,000. American National Bank purchased a new stake in LPL Financial during the 4th quarter valued at $32,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in LPL Financial by 770.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 261 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 231 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Price Performance

LPLA opened at $281.16 on Tuesday. LPL Financial Holdings Inc. has a 12-month low of $200.18 and a 12-month high of $287.80. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. The business’s fifty day simple moving average is $271.56 and its 200-day simple moving average is $254.87. The company has a market capitalization of $21.01 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.11 and a beta of 0.89.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $4.21 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.44. LPL Financial had a net margin of 9.71% and a return on equity of 55.22%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.68 billion. On average, equities research analysts anticipate that LPL Financial Holdings Inc. will post 15.85 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a $0.30 dividend. The ex-dividend date was Monday, May 20th. This represents a $1.20 annualized dividend and a yield of 0.43%. LPL Financial’s dividend payout ratio (DPR) is 9.06%.

Analysts Set New Price Targets

A number of research firms have weighed in on LPLA. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $254.00 to $315.00 in a research note on Tuesday, April 9th. JPMorgan Chase & Co. increased their target price on LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. TD Cowen increased their target price on LPL Financial from $269.00 to $271.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Barclays increased their target price on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Raymond James initiated coverage on LPL Financial in a research note on Thursday, April 4th. They issued an “underperform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $276.20.

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.