LPL Financial (NASDAQ:LPLA) Sets New 52-Week High at $275.00

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $275.00 and last traded at $272.55, with a volume of 58111 shares trading hands. The stock had previously closed at $273.91.

Wall Street Analyst Weigh In

Several research firms have weighed in on LPLA. JMP Securities raised their target price on LPL Financial from $290.00 to $305.00 and gave the company a "market outperform" rating in a report on Tuesday, April 9th. Raymond James started coverage on LPL Financial in a research report on Thursday, April 4th. They issued an "underperform" rating on the stock. TD Cowen raised their price target on LPL Financial from $266.00 to $269.00 and gave the company a "market perform" rating in a research report on Friday, March 22nd. Morgan Stanley raised LPL Financial from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $254.00 to $315.00 in a research report on Tuesday, April 9th. Finally, UBS Group raised their price target on LPL Financial from $260.00 to $267.00 and gave the company a "neutral" rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $276.00.

LPL Financial Stock Down 1.7 %

The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $20.10 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The firm has a 50 day moving average of $264.44 and a 200-day moving average of $242.54.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.18. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the company posted $4.21 earnings per share. The company's quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts expect that LPL Financial Holdings Inc. will post 15.55 earnings per share for the current fiscal year.

Insider Activity

In other LPL Financial news, CEO Dan H. Arnold sold 34,807 shares of the company's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the transaction, the chief executive officer now owns 141,810 shares of the company's stock, valued at approximately $37,798,037.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other LPL Financial news, Director Kabir Sethi sold 1,300 shares of the company's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.50, for a total transaction of $346,450.00. Following the transaction, the director now owns 10,245 shares of the company's stock, valued at approximately $2,730,292.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Dan H. Arnold sold 34,807 shares of the company's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $266.54, for a total value of $9,277,457.78. Following the transaction, the chief executive officer now directly owns 141,810 shares in the company, valued at approximately $37,798,037.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,151 shares of company stock worth $15,911,088. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Norden Group LLC acquired a new position in shares of LPL Financial in the 1st quarter valued at $889,000. Van ECK Associates Corp increased its position in shares of LPL Financial by 14.4% in the 1st quarter. Van ECK Associates Corp now owns 23,589 shares of the financial services provider's stock valued at $6,233,000 after buying an additional 2,969 shares in the last quarter. Garrett Wealth Advisory Group LLC bought a new stake in shares of LPL Financial in the 1st quarter valued at $850,000. Perigon Wealth Management LLC bought a new stake in shares of LPL Financial in the 1st quarter valued at $230,000. Finally, Commonwealth Equity Services LLC increased its position in shares of LPL Financial by 33.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 5,473 shares of the financial services provider's stock valued at $1,446,000 after buying an additional 1,380 shares in the last quarter. Institutional investors and hedge funds 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.