Wealth Enhancement Advisory Services LLC Has $2.29 Million Holdings in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Wealth Enhancement Advisory Services LLC increased its position in shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,675 shares of the financial services provider’s stock after acquiring an additional 313 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in LPL Financial were worth $2,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in LPL Financial by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 7,141,049 shares of the financial services provider’s stock valued at $1,625,446,000 after buying an additional 48,439 shares in the last quarter. Boston Partners lifted its holdings in shares of LPL Financial by 21.5% during the fourth quarter. Boston Partners now owns 1,026,721 shares of the financial services provider’s stock worth $233,744,000 after purchasing an additional 181,594 shares during the period. Norges Bank acquired a new position in LPL Financial in the fourth quarter valued at $200,497,000. TD Asset Management Inc lifted its holdings in LPL Financial by 286.0% in the fourth quarter. TD Asset Management Inc now owns 828,369 shares of the financial services provider’s stock valued at $188,553,000 after buying an additional 613,792 shares during the period. Finally, Eminence Capital LP lifted its holdings in LPL Financial by 14.5% in the fourth quarter. Eminence Capital LP now owns 799,757 shares of the financial services provider’s stock valued at $182,041,000 after buying an additional 101,159 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Trading Down 0.9 %

NASDAQ:LPLA opened at $279.37 on Friday. The stock has a market cap of $20.87 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 1.13 and a beta of 0.90. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.70. LPL Financial Holdings Inc. has a 12 month low of $200.18 and a 12 month high of $289.88. The company has a 50-day moving average price of $276.22 and a 200-day moving average price of $259.83.

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

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, May 20th. LPL Financial’s payout ratio is 9.06%.

Insider Buying and Selling

In related news, CEO Dan H. Arnold sold 5,677 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the transaction, the chief executive officer now owns 142,608 shares of the company’s stock, valued at $39,546,624.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LPLA shares. Raymond James started coverage on shares of LPL Financial in a research note on Thursday, April 4th. They issued an “underperform” rating for the company. Barclays upped their price objective on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Morgan Stanley raised shares of LPL Financial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. TD Cowen boosted their target price on shares of LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Finally, JMP Securities restated a “market outperform” rating and set a $305.00 price target on shares of LPL Financial in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price 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.