The financial world is always on the move, and Thrivent Financial for Lutherans has recently announced its increase of holdings in LPL Financial Holdings Inc. With a staggering increase of 78.3%, according to the company’s most recent 13F filing with the Securities and Exchange Commission, Thrivent Financial for Lutherans certainly seems to have taken note of this particular financial services provider.
As of the end of the reporting period, Thrivent Financial for Lutherans’ holdings in LPL Financial were worth $603,000. Several research analysts have also recently issued reports on LPL Financial. Citigroup decreased their target price from $290.00 to $230.00 while setting a “buy” rating on the stock in a research report on April 11th, 2017. JMP Securities reiterated a “market outperform” rating with a $290.00 price target on shares of LPL Financial in a report published on March 13th, 2017.
Bank of America has decreased their price objective from $246.00 to $228.00 and set a “neutral” rating on the stock as well as JPMorgan Chase & Co., decreasing their price objective from $256.00 to $238.00 and setting the same “neutral” rating shortly after that.
Finally, UBS Group decreased their price objective from $215.00 to $210.00 in another report released later that month by Friday April 28th, resulting in six analysts giving this stock a hold rating while four others gave it a buy rating with data suggesting an average rating thus far being “Hold” accompanied by an average price target of around $234.75.
Notably, LPL Financial also made headlines by having recently announced its quarterly dividend which will be paid out to shareholders beginning June 1st with holders-of-record as of May 18th receiving payouts at an annualized rate of $0.30 — a yield of 0.61%. The ex-dividend date for this particular dividend is May 17th, so act fast for those who want to get their hands on it!
In conclusion, as the financial industry remains in constant flux, it’s always worthwhile to remain informed of the latest happenings from top companies such as LPL Financial and Thrivent Financial for Lutherans. With sharp price adjustments and intriguing dividends on display, be sure to keep your eye on these two providers over the coming months — there may be more good news around the corner!
Institutional Investors and Hedge Funds Drive Ownership of LPL Financial Holdings, Inc.
LPL Financial Holdings Inc (NASDAQ:LPLA), a leading financial services provider in the US, has recently seen significant movement in its share ownership. Several hedge funds and institutional investors have bought and sold shares of LPLA, including U.S. Capital Wealth Advisors LLC, BlackRock, Korea Investment CORP, Integrated Investment Consultants LLC, and Pictet Asset Management SA. The total stake of institutional investors and hedge funds now stands at 94.89% of the company’s stock.
Shares of LPLA opened at $198.06 on Friday, with a 50-day moving average price of $197.83 and a 200-day moving average price of $219.18. The company has a current ratio and quick ratio both of 1.73 and a debt-to-equity ratio of 1.30. Its market capitalization stands at $15.38 billion with a price-to-earnings ratio of 15.21, a PEG ratio of 0.37 and beta value of 0.90.
In further news, CEO Dan H Arnold recently sold a large quantity of LPL Financial stock in transactions totaling over $9 million which were disclosed in documents filed with the SEC. CFO Matthew J Audette also sold shares worth over $1 million in another related transaction.
The current situation surrounding LPL Financial is one worth monitoring closely as the high levels of buying interest by institutional investors could potentially drive up the price; however, given recent individual stock sales by top executives it is important to consider all facets before making any investment decisions based solely on this information.
Overall, there is much to watch as trust for traditional banking institutions among investor classes continues to wane leaving ample opportunities for innovative wealth management platforms like LPLA to gain popularity amongst all investor segments from individual retail clients to high net worth individuals alike seeking greater ease-of-use in the management of their investments.portunities for innovative wealth management platforms like LPLA to gain popularity amongst all investor segments from individual retail clients to high net worth individuals alike seeking greater ease-of-use in the management of their investments.
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