LPL Financial (NASDAQ:LPLA) Trading Down 1.9% - What's Next?

LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) was down 1.9% during mid-day trading on Thursday . The company traded as low as $374.83 and last traded at $376.07. Approximately 272,785 shares changed hands during trading, a decline of 56% from the average daily volume of 614,979 shares. The stock had previously closed at $383.33.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LPLA shares. Keefe, Bruyette & Woods lifted their price target 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. 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 report on Friday, January 31st. Wells Fargo & Company lifted their price target on shares of LPL Financial from $390.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Barclays lifted their price target on shares of LPL Financial from $389.00 to $414.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, TD Cowen raised shares of LPL Financial from a "hold" rating to a "buy" rating and lifted their target price for the stock from $277.00 to $413.00 in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $379.17.

LPL Financial Price Performance

The business's 50 day moving average price is $348.99 and its 200 day moving average price is $289.66. The stock has a market capitalization of $27.85 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 0.95 and a beta of 0.87. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16.

LPL Financial (NASDAQ:LPLA - Get Free Report) last announced 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%. Sell-side analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.32%. LPL Financial's payout ratio is currently 8.55%.

Insiders Place Their Bets

In other LPL Financial 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 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 represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 completion of the transaction, the director now owns 3,920 shares of the company's stock, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On LPL Financial

Several hedge funds have recently modified their holdings of LPLA. Graney & King LLC purchased a new position in shares of LPL Financial in the fourth quarter worth $30,000. Ashton Thomas Securities LLC purchased a new position in shares of LPL Financial in the third quarter worth $31,000. Fourth Dimension Wealth LLC purchased a new position in shares of LPL Financial in the fourth quarter worth $40,000. Itau Unibanco Holding S.A. purchased a new position in shares of LPL Financial in the fourth quarter worth $42,000. Finally, Brooklyn Investment Group purchased a new position in shares of LPL Financial in the third quarter worth $43,000. Hedge funds and other institutional investors own 95.66% of the company's stock.

About LPL Financial

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.