LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) fell 6.5% during trading on Tuesday . The company traded as low as $330.69 and last traded at $335.70. 781,950 shares traded hands during mid-day trading, an increase of 9% from the average session volume of 717,654 shares. The stock had previously closed at $358.86.
Wall Street Analyst Weigh In
A number of research firms recently commented on LPLA. Morgan Stanley boosted their price target on LPL Financial from $379.00 to $413.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. JMP Securities reissued a "market outperform" rating and issued a $435.00 price target on shares of LPL Financial in a report on Friday, January 31st. StockNews.com raised LPL Financial from a "sell" rating to a "hold" rating in a report on Saturday, November 9th. Barclays lifted their price objective on LPL Financial from $389.00 to $414.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, LPL Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $379.17.
Check Out Our Latest Analysis on LPLA
LPL Financial Trading Down 0.9 %
The stock has a market cap of $24.94 billion, a P/E ratio of 23.78, a P/E/G ratio of 0.94 and a beta of 0.82. 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 price of $353.65 and a two-hundred day moving average price of $299.14.
LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share 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, research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.
LPL Financial Dividend Announcement
The firm also recently disclosed 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 0.36%. The ex-dividend date is Tuesday, March 11th. LPL Financial's dividend payout ratio (DPR) is presently 8.55%.
Insider Buying and Selling at LPL Financial
In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total value of $10,507,633.78. Following the transaction, the chief financial officer now owns 13,663 shares of the company's stock, valued at $4,988,907.82. This represents a 67.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Marc Eliot Cohen sold 1,100 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the transaction, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. This trade represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,465 shares of company stock valued at $12,562,070 in the last quarter. 1.30% of the stock is owned by insiders.
Institutional Investors Weigh In On LPL Financial
Hedge funds have recently made changes to their positions in the company. Graney & King LLC purchased a new stake in shares of LPL Financial in the 4th quarter worth $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of LPL Financial in the 3rd quarter worth $31,000. Fourth Dimension Wealth LLC purchased a new stake in shares of LPL Financial in the 4th quarter worth $40,000. Itau Unibanco Holding S.A. purchased a new stake in shares of LPL Financial in the 4th quarter worth $42,000. Finally, Brooklyn Investment Group purchased a new stake in shares of LPL Financial in the 3rd quarter worth $43,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.
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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