LPL Financial Holdings Inc. (NASDAQ:LPLA) Receives Average Rating of "Moderate Buy" from Brokerages

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $363.08.

LPLA has been the topic of several research reports. Morgan Stanley lifted their price objective on LPL Financial from $330.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Citigroup cut LPL Financial from a "neutral" rating to a "sell" rating and set a $80.00 price objective on the stock. in a research report on Wednesday. Barclays lifted their price objective on LPL Financial from $450.00 to $460.00 and gave the company an "overweight" rating in a research report on Thursday. TD Cowen cut LPL Financial from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from $406.00 to $403.00 in a research report on Wednesday. Finally, Wall Street Zen cut LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th.

LPL Financial Trading Down 0.2%

NASDAQ:LPLA traded down $0.72 during mid-day trading on Thursday, reaching $380.18. 613,792 shares of the company's stock traded hands, compared to its average volume of 851,918. LPL Financial has a 12-month low of $187.19 and a 12-month high of $390.23. The firm has a market capitalization of $30.41 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.05 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a current ratio of 2.31 and a quick ratio of 2.31. The company has a 50 day moving average price of $372.62 and a 200-day moving average price of $349.25.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly earnings results 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 return on equity of 46.34% and a net margin of 8.23%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the business earned $3.83 EPS. LPL Financial's revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts predict that LPL Financial will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 30th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, May 30th. LPL Financial's dividend payout ratio (DPR) is currently 8.30%.

Insiders Place Their Bets

In other LPL Financial news, Director Greg Gates sold 1,500 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $382.63, for a total transaction of $573,945.00. Following the sale, the director directly owned 20,620 shares in the company, valued at approximately $7,889,830.60. This trade represents a 6.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LPLA. Summit Securities Group LLC purchased a new position in shares of LPL Financial in the first quarter worth $26,000. Millstone Evans Group LLC boosted its stake 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 worth $28,000 after buying an additional 48 shares during the last quarter. Graney & King LLC bought a new stake in shares of LPL Financial in the fourth quarter worth $30,000. Private Trust Co. NA increased its position 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 valued at $32,000 after acquiring an additional 68 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in LPL Financial by 63.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

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.