Quarry LP grew its holdings in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA – Free Report) by 45.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 327 shares of the financial services provider’s stock after purchasing an additional 102 shares during the quarter. Quarry LP’s holdings in LPL Financial were worth $91,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new stake in LPL Financial in the second quarter worth about $25,000. Key Financial Inc bought a new stake in shares of LPL Financial in the 2nd quarter worth approximately $28,000. Riverview Trust Co bought a new position in LPL Financial during the first quarter valued at $30,000. Crewe Advisors LLC increased its position in LPL Financial by 360.7% in the second quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after buying an additional 101 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its stake in shares of LPL Financial by 74.7% in the second quarter. Tortoise Investment Management LLC now owns 131 shares of the financial services provider’s stock valued at $37,000 after buying an additional 56 shares during the period. 95.66% of the stock is currently owned by institutional investors.
LPL Financial Price Performance
Shares of NASDAQ:LPLA opened at $231.07 on Thursday. The company’s fifty day moving average price is $216.27 and its 200-day moving average price is $249.85. The company has a debt-to-equity ratio of 1.77, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $17.26 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.27 and a beta of 0.88. LPL Financial Holdings Inc. has a one year low of $187.19 and a one year high of $289.88.
LPL Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.30 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.20 dividend on an annualized basis and a yield of 0.52%. LPL Financial’s payout ratio is 9.06%.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on LPLA. Keefe, Bruyette & Woods cut their price target on LPL Financial from $326.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Citigroup dropped their price target on shares of LPL Financial from $325.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Wells Fargo & Company started coverage on LPL Financial in a report on Thursday, September 12th. They issued an “equal weight” rating and a $235.00 price target for the company. JMP Securities increased their price target on shares of LPL Financial from $305.00 to $310.00 and gave the stock a “market outperform” rating in a report on Friday, July 26th. Finally, TD Cowen raised their price objective on shares of LPL Financial from $243.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $275.69.
Check Out Our Latest Research Report on LPL Financial
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.
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