Brokerages Set LPL Financial Holdings Inc. (NASDAQ:LPLA) PT at $379.17

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $379.17.

LPLA has been the subject of several recent analyst reports. Citigroup boosted their target price on LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a report on Friday, January 31st. JMP Securities reissued a "market outperform" rating and issued a $435.00 target price on shares of LPL Financial in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their target price on LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group boosted their target price on LPL Financial from $271.00 to $305.00 and gave the company a "buy" rating in a report on Friday, November 1st.

Insiders Place Their Bets

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the sale, the chief financial officer now directly owns 13,663 shares in the company, valued at approximately $4,988,907.82. The trade was a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aneri Jambusaria sold 305 shares of the business's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the sale, the director now owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Institutional Trading of LPL Financial

Several institutional investors and hedge funds have recently made changes to their positions in LPLA. Graney & King LLC purchased a new stake in shares of LPL Financial in the fourth quarter valued at $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of LPL Financial in the third quarter valued at $31,000. Paladin Wealth LLC purchased a new stake in shares of LPL Financial in the third quarter valued at $34,000. Itau Unibanco Holding S.A. purchased a new stake in shares of LPL Financial in the fourth quarter valued at $42,000. Finally, Brooklyn Investment Group purchased a new stake in shares of LPL Financial in the third quarter valued at $43,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Trading Up 0.4 %

Shares of NASDAQ:LPLA traded up $1.64 during midday trading on Monday, reaching $373.98. 581,964 shares of the company's stock were exchanged, compared to its average volume of 575,145. The firm's 50 day simple moving average is $343.93 and its two-hundred day simple moving average is $284.71. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $28.00 billion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 0.93 and a beta of 0.87. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $376.11.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, sell-side analysts forecast that LPL Financial will post 19.14 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. LPL Financial's payout ratio is 8.55%.

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.