LPL Financial Holdings Inc (NASDAQ:LPLA) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $84.16.
A number of research analysts recently issued reports on LPLA shares. Citigroup lifted their target price on LPL Financial from $95.00 to $102.00 and gave the stock an “underweight” rating in a report on Thursday, May 23rd. BidaskClub lowered LPL Financial from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 9th. Compass Point began coverage on LPL Financial in a report on Monday, March 11th. They set a “buy” rating and a $82.00 target price on the stock. Zacks Investment Research lowered LPL Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. Finally, Goldman Sachs Group lowered LPL Financial from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, April 2nd.
NASDAQ:LPLA traded down $0.07 during mid-day trading on Friday, reaching $84.24. 5,506 shares of the stock were exchanged, compared to its average volume of 758,380. The firm has a market cap of $6.98 billion, a P/E ratio of 15.82, a PEG ratio of 0.79 and a beta of 1.41. LPL Financial has a 1-year low of $52.03 and a 1-year high of $86.09. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.60.
LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.33. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.35 billion. LPL Financial had a return on equity of 53.97% and a net margin of 9.42%. LPL Financial’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share. Sell-side analysts expect that LPL Financial will post 7.08 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. LPL Financial’s dividend payout ratio (DPR) is 18.76%.
In other LPL Financial news, insider Thomas Gooley sold 25,392 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $74.06, for a total transaction of $1,880,531.52. Following the completion of the sale, the insider now directly owns 17,293 shares in the company, valued at approximately $1,280,719.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michelle Oroschakoff sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $84.51, for a total value of $507,060.00. Following the sale, the insider now owns 15,563 shares of the company’s stock, valued at $1,315,229.13. The disclosure for this sale can be found here. Insiders sold a total of 34,328 shares of company stock valued at $2,623,192 in the last quarter. 2.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Teza Capital Management LLC boosted its position in LPL Financial by 1.7% during the 1st quarter. Teza Capital Management LLC now owns 9,095 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 150 shares during the period. CWM LLC lifted its holdings in shares of LPL Financial by 66.7% during the 4th quarter. CWM LLC now owns 445 shares of the financial services provider’s stock valued at $27,000 after buying an additional 178 shares during the last quarter. Bank of The West lifted its holdings in shares of LPL Financial by 1.7% during the 4th quarter. Bank of The West now owns 12,005 shares of the financial services provider’s stock valued at $734,000 after buying an additional 205 shares during the last quarter. Kalos Management Inc. lifted its holdings in shares of LPL Financial by 1.7% during the 4th quarter. Kalos Management Inc. now owns 14,133 shares of the financial services provider’s stock valued at $863,000 after buying an additional 236 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of LPL Financial by 8.4% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,600 shares of the financial services provider’s stock valued at $250,000 after buying an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 93.82% 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 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.
Further Reading: Diversification
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