LPL Financial (NASDAQ:LPLA) Sets New 12-Month High - Time to Buy?

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $393.49 and last traded at $392.27, with a volume of 167902 shares trading hands. The stock had previously closed at $378.87.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LPLA. TD Cowen cut shares of 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, July 9th. Citigroup cut shares of 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, July 9th. Wall Street Zen downgraded LPL Financial from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Wells Fargo & Company upped their price target on shares of LPL Financial from $402.00 to $420.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Morgan Stanley restated an "overweight" rating and issued a $490.00 price target (up from $450.00) on shares of LPL Financial in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, LPL Financial presently has an average rating of "Moderate Buy" and an average price target of $372.15.

LPL Financial Stock Up 2.6%

The firm has a market capitalization of $31.10 billion, a P/E ratio of 27.00, a PEG ratio of 0.90 and a beta of 0.64. The company has a debt-to-equity ratio of 1.82, a quick ratio of 2.31 and a current ratio of 2.31. The business's fifty day moving average price is $377.43 and its two-hundred day moving average price is $350.93.

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

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 30th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Friday, May 30th. LPL Financial's dividend payout ratio is presently 8.30%.

Insider Activity at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $382.63, for a total transaction of $573,945.00. Following the sale, the director owned 20,620 shares of the company's stock, valued at $7,889,830.60. This trade represents a 6.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On LPL Financial

A number of large investors have recently added to or reduced their stakes in LPLA. HighTower Advisors LLC raised its position in LPL Financial by 18.9% during the fourth quarter. HighTower Advisors LLC now owns 15,200 shares of the financial services provider's stock worth $4,963,000 after acquiring an additional 2,417 shares during the period. Corient Private Wealth LLC boosted its stake in LPL Financial by 3.5% during the 4th quarter. Corient Private Wealth LLC now owns 34,972 shares of the financial services provider's stock worth $11,418,000 after purchasing an additional 1,180 shares during the last quarter. Parallel Advisors LLC boosted its stake in LPL Financial by 2.2% during the 4th quarter. Parallel Advisors LLC now owns 2,479 shares of the financial services provider's stock worth $809,000 after purchasing an additional 54 shares during the last quarter. Signaturefd LLC boosted its stake in LPL Financial by 3.1% during the 4th quarter. Signaturefd LLC now owns 1,352 shares of the financial services provider's stock worth $441,000 after purchasing an additional 41 shares during the last quarter. Finally, Generali Asset Management SPA SGR acquired a new stake in LPL Financial during the 4th quarter worth $1,031,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Company Profile

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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