LPL Financial Holdings Inc. (NASDAQ:LPLA) Receives Average Rating of “Hold” from Analysts

LPL Financial Holdings Inc. (NASDAQ:LPLA) has earned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $268.36.

Several research firms have recently commented on LPLA. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. Raymond James began coverage on LPL Financial in a research note on Thursday, April 4th. They set an “underperform” rating on the stock. Barclays raised their price objective on LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. JMP Securities raised their price objective on LPL Financial from $290.00 to $305.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Finally, TD Cowen raised their price objective on LPL Financial from $266.00 to $269.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd.

Insider Activity

In related news, CEO Dan H. Arnold sold 10,000 shares of LPL Financial stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the transaction, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Dan H. Arnold sold 34,807 shares of LPL Financial stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.54, for a total transaction of $9,277,457.78. Following the transaction, the chief executive officer now directly owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the transaction, the chief executive officer now owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,151 shares of company stock valued at $15,911,088. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On LPL Financial

A number of hedge funds and other institutional investors have recently modified their holdings of LPLA. EdgeRock Capital LLC acquired a new position in shares of LPL Financial in the 4th quarter valued at $25,000. First Manhattan Co. acquired a new position in shares of LPL Financial in the 4th quarter valued at $27,000. Smithfield Trust Co boosted its position in shares of LPL Financial by 164.4% in the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 74 shares during the period. GAMMA Investing LLC acquired a new position in shares of LPL Financial in the 4th quarter valued at $30,000. Finally, Gladius Capital Management LP acquired a new stake in LPL Financial during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Stock Up 1.1 %

NASDAQ LPLA opened at $262.59 on Tuesday. The stock has a market cap of $19.62 billion, a PE ratio of 19.24, a P/E/G ratio of 1.26 and a beta of 0.84. LPL Financial has a fifty-two week low of $179.00 and a fifty-two week high of $274.35. The business has a 50 day moving average price of $262.88 and a two-hundred day moving average price of $240.84. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80.

LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.33 by $0.18. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.21 EPS. As a group, sell-side analysts predict that LPL Financial will post 15.55 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, March 11th. LPL Financial’s dividend payout ratio (DPR) is 8.79%.

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.