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 Up 1.7 %
LPLA opened at $227.58 on Monday. LPL Financial has a one year low of $137.59 and a one year high of $232.47. The stock has a market capitalization of $18.15 billion, a PE ratio of 36.77, a P/E/G ratio of 0.57 and a beta of 0.96. The business's 50 day moving average price is $194.43 and its 200 day moving average price is $187.39. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.85 and a current ratio of 1.85.
LPL Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. LPL Financial's dividend payout ratio is currently 16.16%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on LPLA shares. 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 research note on Wednesday, August 3rd. Truist Financial upped their price objective on LPL Financial from $200.00 to $230.00 in a research note on Tuesday, May 3rd. StockNews.com upgraded LPL Financial from a "sell" rating to a "hold" rating in a research note on Thursday, August 4th. Finally, UBS Group boosted their price target on shares of LPL Financial from $212.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, August 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.83.
Insider Transactions at LPL Financial
In other LPL Financial news, Director Richard Steinmeier sold 7,355 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 24,078 shares of the company's stock, valued at approximately $5,216,257.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other LPL Financial 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 transaction, the chief executive officer now 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 SEC, which is available at the SEC website. Also, Director Richard Steinmeier sold 7,355 shares of LPL Financial stock in a transaction on Thursday, August 4th. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders sold 65,878 shares of company stock worth $13,708,035. 1.60% of the stock is currently owned by insiders.
