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.
Analyst Upgrades and Downgrades
A number of research firms recently commented on LPLA. Truist Financial increased their price target on LPL Financial from $200.00 to $230.00 in a research report on Tuesday, May 3rd. UBS Group increased their price target on LPL Financial from $212.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, August 4th. Morgan Stanley lowered their price target on LPL Financial from $241.00 to $239.00 and set an "overweight" rating for the company in a research report on Wednesday, August 3rd. Finally, StockNews.com upgraded LPL Financial from a "sell" rating to a "hold" rating in a research note on Thursday, August 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, LPL Financial presently has a consensus rating of "Moderate Buy" and an average target price of $235.83.
LPL Financial Stock Up 1.7 %
Shares of NASDAQ:LPLA opened at $227.58 on Friday. The company has a market capitalization of $18.15 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 0.57 and a beta of 0.96. 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 business has a fifty day moving average price of $194.43 and a two-hundred day moving average price of $187.22. LPL Financial has a 1 year low of $137.59 and a 1 year high of $232.47.
LPL Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 17th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, August 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. LPL Financial's dividend payout ratio (DPR) is presently 16.16%.
Insider Buying and Selling at LPL Financial
In other news, CEO Dan H. Arnold sold 19,508 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 162,608 shares in the company, valued at approximately $32,580,138.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Richard Steinmeier sold 7,355 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $216.64, for a total transaction of $1,593,387.20. Following the completion of the transaction, the director now owns 24,078 shares in the company, valued at approximately $5,216,257.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dan H. Arnold sold 19,508 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $200.36, for a total value of $3,908,622.88. Following the transaction, the chief executive officer now owns 162,608 shares of the company's stock, valued at approximately $32,580,138.88. The disclosure for this sale can be found here. Insiders sold 81,602 shares of company stock worth $16,416,180 in the last quarter. 1.60% of the stock is currently owned by company insiders.
