LPL Financial (NASDAQ:LPLA) Stock Price Down 5.4% - Time to Sell?

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report)'s share price fell 5.4% on Tuesday . The stock traded as low as $357.00 and last traded at $354.11. 1,249,922 shares changed hands during trading, an increase of 56% from the average session volume of 800,182 shares. The stock had previously closed at $374.36.

Analyst Upgrades and Downgrades

LPLA has been the subject of several research reports. Wells Fargo & Company decreased their target price on LPL Financial from $405.00 to $342.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. JMP Securities increased their price objective on LPL Financial from $420.00 to $440.00 and gave the stock a "market outperform" rating in a report on Friday, May 9th. Wall Street Zen cut shares of LPL Financial from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Redburn Atlantic raised shares of LPL Financial from a "neutral" rating to a "buy" rating and upped their target price for the stock from $420.00 to $460.00 in a research report on Monday, June 9th. Finally, Barclays lifted their price target on shares of LPL Financial from $400.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, LPL Financial currently has an average rating of "Moderate Buy" and an average target price of $387.69.

LPL Financial Trading Down 5.4%

The firm has a market capitalization of $28.32 billion, a PE ratio of 24.51, a P/E/G ratio of 1.04 and a beta of 0.66. The firm has a 50 day simple moving average of $357.42 and a 200 day simple moving average of $345.67. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 1.82.

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 firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the company posted $3.83 earnings per share. The company's quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 30th were paid a $0.30 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.34%. LPL Financial's dividend payout ratio is presently 8.30%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LPLA. Anchor Investment Management LLC raised its stake in LPL Financial by 0.3% during the 4th quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider's stock valued at $3,166,000 after buying an additional 28 shares during the last quarter. Colonial Trust Co SC increased its position in LPL Financial by 6.1% during the fourth quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider's stock valued at $165,000 after acquiring an additional 29 shares during the last quarter. Compass Financial Services Inc increased its position in LPL Financial by 14.5% during the first quarter. Compass Financial Services Inc now owns 229 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 29 shares during the last quarter. United Capital Financial Advisors LLC lifted its holdings in LPL Financial by 2.6% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider's stock valued at $393,000 after acquiring an additional 31 shares during the period. Finally, Tyler Stone Wealth Management boosted its position in LPL Financial by 3.7% in the fourth quarter. Tyler Stone Wealth Management now owns 1,076 shares of the financial services provider's stock worth $351,000 after purchasing an additional 38 shares during the last quarter. 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.

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