Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) have been given a consensus rating of "Moderate Buy" by the sixteen research firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $395.8462.
LPLA has been the topic of several analyst reports. Rothschild Redb lowered LPL Financial from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Weiss Ratings reiterated a "hold (c+)" rating on shares of LPL Financial in a research note on Wednesday, October 8th. TD Cowen lowered LPL Financial from a "strong-buy" rating to a "hold" rating and lowered their price objective for the company from $406.00 to $403.00 in a research note on Wednesday, July 9th. UBS Group set a $455.00 price target on LPL Financial in a research report on Thursday, October 9th. Finally, Rothschild & Co Redburn downgraded LPL Financial from a "buy" rating to a "neutral" rating and set a $390.00 price objective for the company. in a research report on Friday, September 19th.
Check Out Our Latest Stock Report on LPL Financial
Insider Buying and Selling at LPL Financial
In other LPL Financial news, Director Greg Gates sold 1,500 shares of the company's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $338.21, for a total transaction of $507,315.00. Following the transaction, the director owned 17,620 shares of the company's stock, valued at approximately $5,959,260.20. This represents a 7.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aneri Jambusaria sold 80 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $361.25, for a total value of $28,900.00. Following the transaction, the director directly owned 5,582 shares in the company, valued at approximately $2,016,497.50. This represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,830 shares of company stock worth $1,333,105. Company insiders own 1.30% of the company's stock.
Institutional Trading of LPL Financial
A number of large investors have recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in LPL Financial during the 1st quarter worth about $26,000. Osterweis Capital Management Inc. bought a new position in shares of LPL Financial in the 2nd quarter valued at about $26,000. Millstone Evans Group LLC grew its holdings in shares of LPL Financial by 123.1% in the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 48 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in LPL Financial by 116.2% during the second quarter. SBI Securities Co. Ltd. now owns 80 shares of the financial services provider's stock worth $30,000 after purchasing an additional 43 shares during the period. Finally, Private Trust Co. NA grew its holdings in LPL Financial by 234.5% during the first quarter. Private Trust Co. NA now owns 97 shares of the financial services provider's stock worth $32,000 after purchasing an additional 68 shares during the period. Institutional investors own 95.66% of the company's stock.
LPL Financial Price Performance
NASDAQ LPLA opened at $337.94 on Friday. LPL Financial has a fifty-two week low of $252.55 and a fifty-two week high of $403.58. The stock's 50-day moving average is $342.78 and its two-hundred day moving average is $352.94. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.22 and a quick ratio of 3.22. The firm has a market cap of $27.04 billion, a P/E ratio of 23.11, a price-to-earnings-growth ratio of 0.78 and a beta of 0.61.
LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $4.51 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.30. LPL Financial had a return on equity of 39.80% and a net margin of 7.91%.The business had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.77 billion. During the same quarter in the previous year, the firm earned $3.88 EPS. The firm's revenue was up 30.8% compared to the same quarter last year. On average, analysts anticipate that LPL Financial will post 19.35 earnings per share for the current fiscal year.
LPL Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.30 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial's payout ratio is presently 8.21%.
About LPL Financial
(
Get Free Report)
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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