Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the thirteen research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $351.50.
Several equities research analysts recently issued reports on LPLA shares. Wells Fargo & Company boosted their price objective on LPL Financial from $310.00 to $390.00 and gave the stock an "overweight" rating in a research note on Thursday, December 12th. JMP Securities reaffirmed a "market outperform" rating and set a $310.00 target price on shares of LPL Financial in a report on Wednesday, October 9th. Keefe, Bruyette & Woods upped their price objective on shares of LPL Financial from $325.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, December 20th. UBS Group upgraded LPL Financial from a "neutral" rating to a "buy" rating and set a $390.00 price objective on the stock in a research report on Monday, January 6th. Finally, Jefferies Financial Group reduced their price target on LPL Financial from $309.00 to $282.00 and set a "buy" rating on the stock in a report on Friday, October 4th.
Read Our Latest Analysis on LPLA
LPL Financial Stock Performance
Shares of LPLA traded up $7.96 during trading hours on Thursday, hitting $346.21. The stock had a trading volume of 560,767 shares, compared to its average volume of 529,270. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a 50-day moving average price of $326.06 and a 200 day moving average price of $266.91. LPL Financial has a fifty-two week low of $187.19 and a fifty-two week high of $347.74. The firm has a market capitalization of $25.92 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.03 and a beta of 0.87.
LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.47. The firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.04 billion. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. The business's revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.74 EPS. As a group, research analysts anticipate that LPL Financial will post 16.07 EPS for the current year.
LPL Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.35%. LPL Financial's payout ratio is currently 9.02%.
Insider Buying and Selling
In related news, Director Aneri Jambusaria sold 305 shares of the business's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial in the 2nd quarter valued at $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of LPL Financial in the third quarter valued at about $31,000. Paladin Wealth LLC acquired a new stake in shares of LPL Financial during the third quarter worth about $34,000. Brooklyn Investment Group purchased a new position in shares of LPL Financial during the third quarter worth about $43,000. Finally, Quarry LP grew its holdings in shares of LPL Financial by 45.3% during the second quarter. Quarry LP now owns 327 shares of the financial services provider's stock worth $91,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.
About LPL Financial
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Get Free ReportLPL 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.
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