LPL Financial (NASDAQ:LPLA) Trading 0.9% Higher - Still a Buy?

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report)'s share price was up 0.9% during mid-day trading on Wednesday . The company traded as high as $368.11 and last traded at $365.57. Approximately 67,908 shares traded hands during trading, a decline of 89% from the average daily volume of 609,030 shares. The stock had previously closed at $362.42.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LPLA shares. Keefe, Bruyette & Woods boosted their target price on shares of LPL Financial from $390.00 to $405.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Barclays boosted their price target on shares of LPL Financial from $389.00 to $414.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. JMP Securities restated a "market outperform" rating and set a $435.00 price target on shares of LPL Financial in a research note on Friday, January 31st. TD Cowen upgraded shares of LPL Financial from a "hold" rating to a "buy" rating and boosted their price target for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. Finally, Citigroup boosted their price target on shares of LPL Financial from $310.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, January 10th. One equities 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $379.17.

LPL Financial Stock Performance

The stock has a market cap of $28.00 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87. The company's 50 day moving average price is $343.93 and its 200-day moving average price is $284.26. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly 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 net margin of 8.55% and a return on equity of 49.41%. Equities analysts forecast that LPL Financial Holdings Inc. will post 19.14 EPS for the current fiscal year.

LPL Financial Announces Dividend

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

Insider Activity at LPL Financial

In related news, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction dated 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 owns 13,663 shares in the company, valued at approximately $4,988,907.82. This represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aneri Jambusaria sold 305 shares of the company's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the sale, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. This trade 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 company insiders.

Institutional Investors Weigh In On LPL Financial

Several institutional investors have recently added to or reduced their stakes in LPLA. Graney & King LLC purchased a new stake in LPL Financial during the fourth quarter valued at about $30,000. Ashton Thomas Securities LLC purchased a new stake in LPL Financial during the third quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new stake in LPL Financial during the fourth quarter valued at about $42,000. Brooklyn Investment Group purchased a new stake in shares of LPL Financial in the third quarter worth about $43,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider's stock worth $45,000 after buying an additional 43 shares in the last quarter. 95.66% of the stock is owned by hedge funds and other institutional investors.

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.