LPL Financial (NASDAQ:LPLA) Reaches New 52-Week High - Here's Why

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $344.86 and last traded at $338.76, with a volume of 32477 shares. The stock had previously closed at $333.09.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group upgraded LPL Financial from a "neutral" rating to a "buy" rating and set a $390.00 target price for the company in a research report on Monday. Jefferies Financial Group dropped their target price on shares of LPL Financial from $309.00 to $282.00 and set a "buy" rating for the company in a research report on Friday, October 4th. Wells Fargo & Company upped their price target on shares of LPL Financial from $310.00 to $390.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. Morgan Stanley lifted their price objective on shares of LPL Financial from $303.00 to $309.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Finally, Citigroup raised their target price on LPL Financial from $285.00 to $310.00 and gave the company a "buy" rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, LPL Financial currently has a consensus rating of "Moderate Buy" and an average target price of $334.42.

LPL Financial Stock Performance

The company has a fifty day moving average price of $316.97 and a two-hundred day moving average price of $263.88. 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 company has a market capitalization of $25.20 billion, a P/E ratio of 25.30, a PEG ratio of 1.60 and a beta of 0.86.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its quarterly 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 company's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.74 EPS. Equities analysts forecast that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given 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 0.36%. LPL Financial's dividend payout ratio (DPR) is 9.02%.

Insider Activity at LPL Financial

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 value of $101,241.70. Following the transaction, the director now owns 3,920 shares in the company, valued at $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LPLA. Bridges Investment Management Inc. increased its holdings in LPL Financial by 3.2% in the third quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider's stock worth $276,000 after purchasing an additional 37 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of LPL Financial by 1.8% in the 3rd quarter. Avior Wealth Management LLC now owns 2,416 shares of the financial services provider's stock valued at $562,000 after acquiring an additional 42 shares in the last quarter. MFA Wealth Advisors LLC boosted its stake in LPL Financial by 3.9% during the third quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider's stock worth $267,000 after acquiring an additional 43 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in LPL Financial by 1.1% during the third quarter. Integrated Wealth Concepts LLC now owns 4,107 shares of the financial services provider's stock worth $956,000 after acquiring an additional 44 shares in the last quarter. Finally, Metis Global Partners LLC grew its holdings in LPL Financial by 5.1% in the third quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider's stock worth $220,000 after purchasing an additional 46 shares during the period. 95.66% of the stock is owned by institutional investors.

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.