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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes. The company also provides advisory platforms that provide access to mutual funds, exchange-traded funds, stocks, bonds, certain option strategies, unit investment trusts, and institutional money managers and no-load multi-manager variable annuities. In addition, it offers money market programs; and retirement solutions for commission-and fee-based services that allow advisors to provide brokerage services, consultation, and advice to retirement plan sponsors. Further, the company provides other services comprising tools and services that enable advisors to maintain and grow their practices; trust, investment management oversight, and custodial services to trusts for estates and families, as well as insurance brokerage general agency services; and technology products, such as proposal generation, investment analytics, and portfolio modeling. The company was formerly known as LPL Investment Holdings Inc. and changed its name to LPL Financial Holdings Inc. in June 2012. LPL Financial Holdings Inc. was founded in 1989 and is based in San Diego, California.
LPL Financial Trading Down 0.7 %
Shares of NASDAQ:LPLA opened at $226.03 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market capitalization of $18.03 billion, a P/E ratio of 36.52, a price-to-earnings-growth ratio of 0.57 and a beta of 0.96. LPL Financial has a 1-year low of $137.59 and a 1-year high of $232.47. The business has a fifty day moving average price of $194.97 and a 200 day moving average price of $187.81.
LPL Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Tuesday, August 16th. LPL Financial's dividend payout ratio (DPR) is currently 16.16%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on LPLA shares. Truist Financial upped their target price on LPL Financial from $200.00 to $230.00 in a report on Tuesday, May 3rd. UBS Group upped their target price on LPL Financial from $212.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, August 4th. Morgan Stanley lowered their target price on LPL Financial from $241.00 to $239.00 and set an "overweight" rating for the company in a report on Wednesday, August 3rd. Finally, StockNews.com upgraded LPL Financial from a "sell" rating to a "hold" rating in a report on Thursday, August 4th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.83.
Insider Activity at LPL Financial
In related news, CEO Dan H. Arnold sold 19,508 shares of the company's stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $200.36, for a total transaction of $3,908,622.88. Following the transaction, the chief executive officer now directly owns 162,608 shares of the company's stock, valued at approximately $32,580,138.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Dan H. Arnold sold 19,508 shares of the company's stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $200.36, for a total transaction of $3,908,622.88. Following the transaction, the chief executive officer now directly owns 162,608 shares of the company's stock, valued at approximately $32,580,138.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dan H. Arnold sold 39,015 shares of the company's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $210.33, for a total value of $8,206,024.95. Following the transaction, the chief executive officer now directly owns 162,608 shares in the company, valued at $34,201,340.64. The disclosure for this sale can be found here. Insiders have sold 65,878 shares of company stock valued at $13,708,035 in the last ninety days. Corporate insiders own 1.60% of the company's stock.
