LPL Financial (NASDAQ:LPLA) Trading Up 0.2% - Here's What Happened

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) shot up 0.2% during mid-day trading on Thursday . The stock traded as high as $372.63 and last traded at $368.00. 105,368 shares changed hands during trading, a decline of 82% from the average session volume of 601,971 shares. The stock had previously closed at $367.32.

Analysts Set New Price Targets

Several research firms have recently issued reports on LPLA. StockNews.com raised shares of LPL Financial from a "sell" rating to a "hold" rating in a research note on Saturday, November 9th. Citigroup upped their price target on LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Barclays upped their price target on LPL Financial from $389.00 to $414.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Morgan Stanley upped their price target on LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Finally, JMP Securities restated a "market outperform" rating and issued a $435.00 price target on shares of LPL Financial in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $379.17.

LPL Financial Stock Up 0.4 %

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 business has a 50 day simple moving average of $343.93 and a 200 day simple moving average of $284.71. The company has a market capitalization of $28.00 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 0.93 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping analysts' consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. As a group, equities analysts predict that LPL Financial Holdings Inc. will post 19.14 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Tuesday, March 11th. LPL Financial's payout ratio is currently 8.55%.

Insider Activity

In related news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction on Thursday, December 5th. The stock was 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 of the company's stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction on 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 directly owns 13,663 shares in the company, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their position. 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

Several large investors have recently bought and sold shares of LPLA. Graney & King LLC purchased a new position in shares of LPL Financial during the fourth quarter worth about $30,000. Ashton Thomas Securities LLC purchased a new position in shares of LPL Financial during the third quarter worth about $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of LPL Financial during the fourth quarter worth about $42,000. Brooklyn Investment Group purchased a new position in shares of LPL Financial during the third quarter worth about $43,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of LPL Financial by 45.3% during the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.

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.