LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) was down 1.7% during trading on Monday following insider selling activity. The company traded as low as $362.57 and last traded at $363.01. Approximately 172,823 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 583,975 shares. The stock had previously closed at $369.14.
Specifically, CFO Matthew J. Audette sold 28,777 shares of the 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 sale, the chief financial officer now directly owns 13,663 shares of the company's stock, valued at $4,988,907.82. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on LPLA shares. Citigroup upped their target price on shares of LPL Financial from $310.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, January 10th. StockNews.com raised shares of LPL Financial from a "sell" rating to a "hold" rating in a report on Saturday, November 9th. UBS Group lifted their target price on LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Wells Fargo & Company increased their price target on LPL Financial from $390.00 to $405.00 and gave the company 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $379.17.
Read Our Latest Research Report on LPL Financial
LPL Financial Stock Up 1.3 %
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 company has a fifty day moving average of $342.16 and a two-hundred day moving average of $282.10. The company has a market cap of $27.85 billion, a PE ratio of 26.46, a price-to-earnings-growth 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 net margin of 8.55% and a return on equity of 49.41%. As a group, analysts anticipate that LPL Financial Holdings Inc. will post 19.14 earnings per share for the current fiscal year.
LPL Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. LPL Financial's dividend payout ratio is 8.55%.
Institutional Investors Weigh In On LPL Financial
A number of institutional investors and hedge funds have recently modified their holdings of the business. Fortis Capital Advisors LLC purchased a new stake in LPL Financial in the fourth quarter worth $889,000. Sterling Capital Management LLC increased its stake in LPL Financial by 3.9% in the 4th quarter. Sterling Capital Management LLC now owns 13,003 shares of the financial services provider's stock worth $4,246,000 after buying an additional 491 shares during the period. Kennedy Capital Management LLC lifted its holdings in LPL Financial by 0.6% during the 4th quarter. Kennedy Capital Management LLC now owns 20,030 shares of the financial services provider's stock valued at $6,540,000 after buying an additional 111 shares in the last quarter. Bessemer Group Inc. boosted its position in LPL Financial by 17.7% in the 4th quarter. Bessemer Group Inc. now owns 1,886 shares of the financial services provider's stock valued at $615,000 after buying an additional 284 shares during the period. Finally, Waddell & Associates LLC bought a new position in LPL Financial in the 4th quarter worth about $244,000. 95.66% of the stock is owned by institutional investors.
LPL Financial Company Profile
(
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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