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LPL Financial (NASDAQ:LPLA) Reaches New 1-Year High - Here's What Happened

LPL Financial logo with Finance background

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $383.61 and last traded at $379.46, with a volume of 1348463 shares. The stock had previously closed at $383.33.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LPLA shares. The Goldman Sachs Group boosted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, November 1st. TD Cowen raised shares of LPL Financial from a "hold" rating to a "buy" rating and boosted their target price for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Citigroup boosted their target price on shares of LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. Wells Fargo & Company boosted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $379.17.

View Our Latest Stock Report on LPLA

LPL Financial Trading Down 2.0 %

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 firm has a market cap of $27.85 billion, a P/E ratio of 26.49, a P/E/G ratio of 0.95 and a beta of 0.87. The business's 50-day moving average is $348.99 and its two-hundred day moving average is $289.66.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. As a group, analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share 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. Shareholders of record on Tuesday, March 11th will be given a $0.30 dividend. This represents a $1.20 annualized dividend 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 8.55%.

Insiders Place Their Bets

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the transaction, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Aneri Jambusaria sold 305 shares of the company's stock in a transaction that occurred 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 sale, the director now directly owns 3,920 shares of the company's stock, valued at approximately $1,301,204.80. This represents 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 insiders.

Institutional Trading of LPL Financial

Institutional investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. lifted its stake in shares of LPL Financial by 50.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,841 shares of the financial services provider's stock worth $3,685,000 after acquiring an additional 5,320 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in LPL Financial during the third quarter valued at approximately $2,633,000. Principal Financial Group Inc. lifted its stake in LPL Financial by 15.7% during the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider's stock valued at $5,913,000 after purchasing an additional 3,444 shares during the last quarter. Truist Financial Corp lifted its stake in LPL Financial by 7.9% during the fourth quarter. Truist Financial Corp now owns 192,153 shares of the financial services provider's stock valued at $62,740,000 after purchasing an additional 14,106 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in LPL Financial by 4.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 31,209 shares of the financial services provider's stock valued at $10,190,000 after purchasing an additional 1,383 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

LPL Financial Company Profile

(Get Free Report)

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.

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