Choreo LLC Makes New $415,000 Investment in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Choreo LLC bought a new position in LPL Financial Holdings Inc. (NASDAQ:LPLA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,474 shares of the financial services provider’s stock, valued at approximately $415,000.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new stake in LPL Financial in the second quarter worth $25,000. Key Financial Inc acquired a new position in shares of LPL Financial during the second quarter valued at $28,000. Riverview Trust Co acquired a new position in shares of LPL Financial during the first quarter valued at $30,000. Crewe Advisors LLC increased its holdings in shares of LPL Financial by 360.7% during the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the period. Finally, Tortoise Investment Management LLC increased its holdings in shares of LPL Financial by 74.7% during the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 56 shares during the period. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Trading Up 1.2 %

NASDAQ:LPLA opened at $208.14 on Tuesday. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77. LPL Financial Holdings Inc. has a 1-year low of $187.19 and a 1-year high of $289.88. The firm has a market capitalization of $15.55 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.20 and a beta of 0.88. The stock has a fifty day simple moving average of $221.86 and a 200 day simple moving average of $253.56.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a return on equity of 52.14% and a net margin of 8.91%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the company posted $3.94 EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 15.9 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, August 9th. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

Analyst Ratings Changes

A number of research analysts have recently commented on LPLA shares. TD Cowen raised their price target on LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price target on LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. UBS Group lowered their price target on LPL Financial from $290.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. JMP Securities raised their price target on LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a report on Friday, July 26th. Finally, Bank of America raised LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price for the company in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $275.27.

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.