LPL Financial Holdings Inc (NASDAQ:LPLA) Director George Burton White sold 25,000 shares of LPL Financial stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $65.42, for a total value of $1,635,500.00. Following the transaction, the director now owns 50,505 shares of the company’s stock, valued at approximately $3,304,037.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
NASDAQ:LPLA traded down $3.41 during trading hours on Friday, hitting $58.65. 1,409,703 shares of the stock were exchanged, compared to its average volume of 736,878. LPL Financial Holdings Inc has a 52-week low of $37.38 and a 52-week high of $66.64. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.47. The firm has a market cap of $5,289.12, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 1.01 and a beta of 1.62.
LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, February 1st. The financial services provider reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.52. LPL Financial had a return on equity of 29.42% and a net margin of 5.58%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. research analysts forecast that LPL Financial Holdings Inc will post 3.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.00 annualized dividend and a yield of 1.71%. LPL Financial’s dividend payout ratio (DPR) is currently 33.33%.
Several equities analysts recently weighed in on LPLA shares. Keefe, Bruyette & Woods restated a “buy” rating and issued a $66.00 price target on shares of LPL Financial in a research note on Friday, December 22nd. Zacks Investment Research lowered LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Morgan Stanley upgraded LPL Financial from an “underweight” rating to an “equal weight” rating and set a $42.00 price target for the company in a research note on Wednesday, January 3rd. Wells Fargo restated a “market perform” rating and issued a $60.00 price target (up previously from $52.00) on shares of LPL Financial in a research note on Thursday, January 4th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $77.00 price target (up previously from $68.00) on shares of LPL Financial in a research note on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $70.50.
A number of large investors have recently bought and sold shares of LPLA. The Manufacturers Life Insurance Company increased its stake in LPL Financial by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after buying an additional 211 shares in the last quarter. American International Group Inc. acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $119,000. Cerebellum GP LLC acquired a new position in shares of LPL Financial during the 4th quarter worth approximately $122,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of LPL Financial by 140.7% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,186 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 1,278 shares during the last quarter. Finally, Comerica Bank acquired a new position in shares of LPL Financial during the 3rd quarter worth approximately $200,000. Institutional investors own 93.61% of the company’s stock.
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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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