LPL Financial (NASDAQ:LPLA) Shares Up 2.3%

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) shares shot up 2.3% during mid-day trading on Monday . The company traded as high as $273.59 and last traded at $272.44. 152,216 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 523,225 shares. The stock had previously closed at $266.32.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LPLA. JMP Securities raised their price target on LPL Financial from $290.00 to $305.00 and gave the stock a "market outperform" rating in a research report on Tuesday, April 9th. Raymond James began coverage on LPL Financial in a research report on Thursday, April 4th. They issued an "underperform" rating for the company. Morgan Stanley upgraded LPL Financial from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. Barclays raised their price target on LPL Financial from $302.00 to $312.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. Finally, UBS Group increased their target price on LPL Financial from $260.00 to $267.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $276.00.

LPL Financial Stock Performance

The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. The business has a 50 day simple moving average of $263.85 and a two-hundred day simple moving average of $241.92. The firm has a market cap of $20.46 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84.

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

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.44%. LPL Financial's dividend payout ratio is currently 8.79%.

Insider Activity

In other news, CEO Dan H. Arnold sold 10,000 shares of the firm's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the transaction, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Dan H. Arnold sold 10,000 shares of the firm's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the transaction, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew Enyedi sold 1,381 shares of LPL Financial stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the transaction, the director now owns 8,634 shares in the company, valued at approximately $2,218,419.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,151 shares of company stock worth $15,911,088. Company insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On LPL Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Foster Victor Wealth Advisors LLC grew its stake in LPL Financial by 11.8% in the first quarter. Foster Victor Wealth Advisors LLC now owns 49,467 shares of the financial services provider's stock valued at $13,026,000 after purchasing an additional 5,223 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in LPL Financial by 5.9% in the first quarter. Yousif Capital Management LLC now owns 1,693 shares of the financial services provider's stock worth $447,000 after acquiring an additional 94 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new stake in LPL Financial in the first quarter worth about $210,000. SYSTM Wealth Solutions LLC boosted its holdings in LPL Financial by 64.8% in the first quarter. SYSTM Wealth Solutions LLC now owns 824 shares of the financial services provider's stock worth $218,000 after acquiring an additional 324 shares in the last quarter. Finally, MONECO Advisors LLC boosted its holdings in LPL Financial by 26.0% in the first quarter. MONECO Advisors LLC now owns 2,416 shares of the financial services provider's stock worth $638,000 after acquiring an additional 498 shares in 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.