LPL Financial (NASDAQ:LPLA) Trading 1% Higher – What’s Next?

LPL Financial Holdings Inc. (NASDAQ:LPLA) was up 1% during mid-day trading on Tuesday . The stock traded as high as $379.59 and last traded at $377.70. Approximately 128,223 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 604,899 shares. The stock had previously closed at $373.98.

Wall Street Analyst Weigh In

LPLA has been the subject of several analyst reports. The Goldman Sachs Group increased their target price on shares of LPL Financial from $271.00 to $305.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their target price on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley increased 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 reiterated a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a report on Friday, January 31st. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $379.17.

LPL Financial Price Performance

The firm has a 50 day moving average price of $348.16 and a two-hundred day moving average price of $288.42. The company has a market cap of $28.41 billion, a P/E ratio of 27.03, a P/E/G ratio of 0.94 and a beta of 0.87. 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) last posted its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping 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%. On average, analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. LPL Financial’s payout ratio is 8.55%.

Insiders Place Their Bets

In other news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was 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 $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction dated Wednesday, February 5th. The stock was 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 in the company, valued at approximately $4,988,907.82. The trade was a 67.81 % 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.

Institutional Trading of LPL Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. grew its position in shares of LPL Financial by 101.4% during the 3rd quarter. Blue Trust Inc. now owns 977 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 492 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in LPL Financial by 10.3% during the third quarter. Sequoia Financial Advisors LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after buying an additional 88 shares in the last quarter. Private Advisor Group LLC increased its stake in LPL Financial by 1.0% in the 3rd quarter. Private Advisor Group LLC now owns 27,098 shares of the financial services provider’s stock worth $6,304,000 after acquiring an additional 276 shares during the last quarter. Greenleaf Trust purchased a new stake in shares of LPL Financial in the 3rd quarter valued at about $2,169,000. Finally, MFA Wealth Advisors LLC boosted its position in shares of LPL Financial by 3.9% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 43 shares during the last quarter. 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.