LPL Financial Holdings Inc. (NASDAQ:LPLA) CEO Dan H. Arnold sold 3,742 shares of LPL Financial stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total value of $181,636.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
LPL Financial Holdings Inc. (NASDAQ LPLA) traded up $1.76 during trading on Monday, reaching $54.70. The company’s stock had a trading volume of 1,269,090 shares, compared to its average volume of 719,775. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $4,930.00, a price-to-earnings ratio of 21.26, a P/E/G ratio of 1.77 and a beta of 1.88. LPL Financial Holdings Inc. has a one year low of $34.01 and a one year high of $55.39.
LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. LPL Financial had a return on equity of 26.03% and a net margin of 5.19%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share. equities analysts forecast that LPL Financial Holdings Inc. will post 2.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Shareholders of record on Thursday, November 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Wednesday, November 8th. LPL Financial’s dividend payout ratio is currently 42.37%.
A number of institutional investors have recently bought and sold shares of the business. Retirement Capital Strategies lifted its stake in shares of LPL Financial by 0.4% during the second quarter. Retirement Capital Strategies now owns 10,041 shares of the financial services provider’s stock valued at $428,000 after acquiring an additional 41 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in shares of LPL Financial by 1.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 2,776 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 52 shares during the period. Hanseatic Management Services Inc. lifted its stake in shares of LPL Financial by 0.4% during the second quarter. Hanseatic Management Services Inc. now owns 19,602 shares of the financial services provider’s stock valued at $832,000 after acquiring an additional 83 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of LPL Financial by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 211 shares during the period. Finally, State of Wisconsin Investment Board lifted its stake in shares of LPL Financial by 2.9% during the second quarter. State of Wisconsin Investment Board now owns 17,588 shares of the financial services provider’s stock valued at $747,000 after acquiring an additional 490 shares during the period. 90.33% of the stock is currently owned by institutional investors.
LPLA has been the topic of a number of analyst reports. SunTrust Banks raised LPL Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $55.00 in a research note on Wednesday, August 16th. Nomura lifted their price target on LPL Financial from $53.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 17th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $51.00 price target (up previously from $48.00) on shares of LPL Financial in a research note on Friday, August 18th. Zacks Investment Research cut LPL Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, Morgan Stanley lifted their price target on LPL Financial from $39.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, October 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.55.
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LPL Financial Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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