LPL Financial Holdings Inc. (NASDAQ:LPLA) Given Average Recommendation of "Moderate Buy" by Brokerages

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the thirteen ratings firms that are currently covering the stock, Marketbeat 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 target price among analysts that have issued ratings on the stock in the last year is $379.17.

A number of research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the company a "buy" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on LPL Financial from $397.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Citigroup upped their price objective on LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Morgan Stanley lifted their target price on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company boosted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an "overweight" rating in a report on Friday, January 31st.

LPL Financial Stock Up 1.4 %

Shares of LPL Financial stock traded up $5.02 during trading hours on Monday, reaching $372.34. 698,704 shares of the company's stock were exchanged, compared to its average volume of 623,086. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The company has a 50 day moving average of $342.16 and a two-hundred day moving average of $282.10. The stock has a market cap of $27.88 billion, a P/E ratio of 26.52, 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 $375.83.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS 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%. On average, sell-side analysts forecast that LPL Financial will post 19.14 EPS for the current fiscal year.

LPL Financial Announces Dividend

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

Insider Buying and Selling at LPL Financial

In other news, CFO Matthew J. Audette sold 28,777 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were 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 owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Aneri Jambusaria sold 305 shares of the company's stock in a transaction on Thursday, December 5th. The stock was 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 of the company's stock, valued at $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On LPL Financial

A number of hedge funds and other institutional investors have recently modified their holdings of LPLA. Graney & King LLC bought a new stake in LPL Financial in the fourth quarter worth $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of LPL Financial during the third quarter valued at approximately $31,000. Paladin Wealth LLC bought a new position in shares of LPL Financial in the third quarter worth approximately $34,000. Brooklyn Investment Group purchased a new position in shares of LPL Financial in the third quarter worth $43,000. Finally, Jones Financial Companies Lllp raised its holdings in LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock valued at $45,000 after buying an additional 43 shares during the last quarter. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Company Profile

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.