A number of other analysts have also weighed in on the company. Jefferies Financial Group initiated coverage on LPL Financial in a research note on Tuesday, September 17th. They issued a buy rating and a $96.00 target price on the stock. Zacks Investment Research upgraded LPL Financial from a sell rating to a hold rating in a research note on Tuesday, October 29th. Citigroup increased their target price on LPL Financial from $105.00 to $110.00 and gave the stock a sell rating in a research note on Friday. Credit Suisse Group reduced their target price on LPL Financial from $110.00 to $98.00 and set an outperform rating on the stock in a research note on Tuesday, October 1st. Finally, ValuEngine upgraded LPL Financial from a sell rating to a hold rating in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $93.52.
LPLA stock traded up $0.19 during midday trading on Friday, reaching $90.57. The company’s stock had a trading volume of 712,800 shares, compared to its average volume of 711,624. The company has a debt-to-equity ratio of 2.56, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a fifty day simple moving average of $80.70 and a two-hundred day simple moving average of $80.83. LPL Financial has a 1 year low of $56.20 and a 1 year high of $91.54. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.85 and a beta of 1.39.
LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.10. LPL Financial had a return on equity of 59.56% and a net margin of 10.07%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $1.19 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. As a group, analysts forecast that LPL Financial will post 7.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Wednesday, November 6th. LPL Financial’s payout ratio is 18.76%.
In other news, Director Michelle Oroschakoff sold 5,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $85.95, for a total transaction of $429,750.00. Following the transaction, the director now owns 14,563 shares of the company’s stock, valued at approximately $1,251,689.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Andrew Kalbaugh sold 32,120 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $80.28, for a total value of $2,578,593.60. Following the transaction, the director now directly owns 24,096 shares in the company, valued at approximately $1,934,426.88. The disclosure for this sale can be found here. Insiders have sold a total of 156,166 shares of company stock worth $12,763,243 in the last three months. Corporate insiders own 2.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of LPLA. DekaBank Deutsche Girozentrale bought a new position in shares of LPL Financial during the 2nd quarter worth $34,000. Captrust Financial Advisors grew its position in shares of LPL Financial by 70,000.0% during the 2nd quarter. Captrust Financial Advisors now owns 701 shares of the financial services provider’s stock worth $57,000 after buying an additional 700 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of LPL Financial during the 3rd quarter worth $75,000. Advisory Services Network LLC grew its position in shares of LPL Financial by 59.5% during the 2nd quarter. Advisory Services Network LLC now owns 965 shares of the financial services provider’s stock worth $79,000 after buying an additional 360 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of LPL Financial by 610.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 987 shares of the financial services provider’s stock worth $80,000 after buying an additional 848 shares in the last quarter. 95.31% of the stock is currently owned by institutional investors and hedge funds.
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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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