Avior Wealth Management LLC Acquires 409 Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA)

Avior Wealth Management LLC grew its holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA) by 16.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,888 shares of the financial services provider’s stock after purchasing an additional 409 shares during the period. Avior Wealth Management LLC’s holdings in LPL Financial were worth $945,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of Montreal Can increased its holdings in LPL Financial by 46.9% during the 4th quarter. Bank of Montreal Can now owns 59,910 shares of the financial services provider’s stock worth $19,561,000 after acquiring an additional 19,126 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in LPL Financial by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 335,749 shares of the financial services provider’s stock worth $109,625,000 after acquiring an additional 13,936 shares during the period. Dynasty Wealth Management LLC increased its holdings in LPL Financial by 58.8% during the 4th quarter. Dynasty Wealth Management LLC now owns 6,165 shares of the financial services provider’s stock worth $2,013,000 after acquiring an additional 2,283 shares during the period. Pinnacle Wealth Planning Services Inc. bought a new stake in LPL Financial during the 4th quarter worth approximately $450,000. Finally, Merit Financial Group LLC increased its holdings in LPL Financial by 195.1% during the 1st quarter. Merit Financial Group LLC now owns 3,341 shares of the financial services provider’s stock worth $1,093,000 after acquiring an additional 2,209 shares during the period. Institutional investors own 95.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on LPLA shares. Barclays upped their target price on shares of LPL Financial from $400.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, June 9th. Citigroup lowered shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $400.00 target price on the stock. in a report on Monday, June 9th. Wells Fargo & Company cut their price target on shares of LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Wall Street Zen cut shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Finally, Morgan Stanley boosted their price target on shares of LPL Financial from $330.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, LPL Financial currently has a consensus rating of “Moderate Buy” and an average price target of $387.69.

LPL Financial Price Performance

Shares of LPL Financial stock opened at $379.58 on Friday. LPL Financial Holdings Inc. has a 52-week low of $187.19 and a 52-week high of $390.23. The stock has a market capitalization of $30.36 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 1.04 and a beta of 0.67. The company has a fifty day moving average of $356.15 and a 200-day moving average of $345.24. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31.

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

LPL Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. LPL Financial’s dividend payout ratio (DPR) is 8.30%.

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.