Shares of LPL Financial (NASDAQ:LPLA) have been given an average rating of “Buy” by the thirteen research firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $71.20.
Several research firms have recently weighed in on LPLA. Sanford C. Bernstein began coverage on shares of LPL Financial in a research report on Monday. They set an “outperform” rating and a $75.00 price objective for the company. BidaskClub lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. ValuEngine lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Zacks Investment Research lowered shares of LPL Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, Morgan Stanley raised their price objective on shares of LPL Financial from $62.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th.
In other LPL Financial news, insider John Andrew Kalbaugh sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $62.61, for a total value of $626,100.00. Following the completion of the transaction, the insider now directly owns 38,050 shares in the company, valued at $2,382,310.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Marco Hellman sold 1,150,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $62.12, for a total transaction of $71,438,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,469,435 shares of company stock valued at $92,312,374. Corporate insiders own 2.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in LPLA. The Manufacturers Life Insurance Company boosted its holdings in shares of LPL Financial by 8.2% in the second 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 during the period. American International Group Inc. acquired a new position in shares of LPL Financial in the fourth quarter worth about $119,000. Cerebellum GP LLC acquired a new position in shares of LPL Financial in the fourth quarter worth about $122,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of LPL Financial by 140.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,186 shares of the financial services provider’s stock worth $125,000 after buying an additional 1,278 shares during the period. Finally, London Co. of Virginia acquired a new position in shares of LPL Financial in the fourth quarter worth about $220,000. Institutional investors own 93.48% of the company’s stock.
LPL Financial stock traded down $0.10 during trading hours on Friday, hitting $57.49. 252,488 shares of the company traded hands, compared to its average volume of 912,591. The stock has a market cap of $5,099.72, a price-to-earnings ratio of 19.20, a PEG ratio of 0.98 and a beta of 1.62. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 2.47. LPL Financial has a 1-year low of $37.38 and a 1-year high of $66.64.
LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, February 1st. The financial services provider reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.52. LPL Financial had a net margin of 5.58% and a return on equity of 29.42%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. research analysts expect that LPL Financial will post 3.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, March 8th. LPL Financial’s payout ratio is 33.33%.
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LPL Financial Company Profile
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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