Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) hit a new 52-week high during mid-day trading on Saturday . The stock traded as high as $376.11 and last traded at $373.98, with a volume of 581964 shares trading hands. The stock had previously closed at $372.34.
Analyst Ratings Changes
Several equities research analysts have issued reports on LPLA shares. JPMorgan Chase & Co. lifted their price target on shares of LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods boosted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. UBS Group boosted their price objective on shares of LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. JMP Securities restated a "market outperform" rating and set a $435.00 price objective on shares of LPL Financial in a research note on Friday, January 31st. Finally, Barclays boosted their price objective on shares of LPL Financial from $389.00 to $414.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, LPL Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $379.17.
Read Our Latest Stock Report on LPL Financial
LPL Financial Stock Up 1.6 %
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 stock has a market cap of $28.45 billion, a P/E ratio of 27.06, a P/E/G ratio of 0.93 and a beta of 0.87. The stock's fifty day simple moving average is $344.99 and its 200-day simple moving average is $285.83.
LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, research analysts forecast that LPL Financial Holdings Inc. will post 19.14 earnings per share for the current fiscal year.
LPL Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders 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 dividend yield of 0.32%. The ex-dividend date is Tuesday, March 11th. LPL Financial's dividend payout ratio (DPR) is presently 8.55%.
Insider Transactions at LPL Financial
In related news, CFO Matthew J. Audette sold 28,777 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 13,663 shares in the company, valued at $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 through this hyperlink. 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 transaction, the director now 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 currently owned by insiders.
Hedge Funds Weigh In On LPL Financial
Institutional investors have recently added to or reduced their stakes in the stock. Graney & King LLC acquired a new position in LPL Financial during the 4th quarter worth approximately $30,000. Ashton Thomas Securities LLC acquired a new position in LPL Financial during the 3rd quarter worth approximately $31,000. Fourth Dimension Wealth LLC acquired a new position in LPL Financial during the 4th quarter worth approximately $40,000. Itau Unibanco Holding S.A. acquired a new position in LPL Financial in the 4th quarter valued at approximately $42,000. Finally, Brooklyn Investment Group acquired a new position in LPL Financial in the 3rd quarter valued at approximately $43,000. 95.66% of the stock is currently owned by institutional investors and hedge funds.
About LPL Financial
(
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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