LPL Financial Holdings Inc. (NASDAQ:LPLA) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $252.90.

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on LPL Financial from $230.00 to $251.00 and gave the company a “neutral” rating in a research report on Tuesday, October 10th. StockNews.com assumed coverage on LPL Financial in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Morgan Stanley dropped their target price on LPL Financial from $260.00 to $252.00 and set an “equal weight” rating for the company in a research report on Monday, October 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $290.00 target price on shares of LPL Financial in a research report on Tuesday, October 10th. Finally, Jefferies Financial Group lifted their target price on LPL Financial from $282.00 to $284.00 in a research report on Tuesday, October 10th.

Insider Activity at LPL Financial

In related news, Director Matthew Enyedi sold 3,265 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $230.86, for a total value of $753,757.90. Following the completion of the transaction, the director now directly owns 9,978 shares of the company’s stock, valued at $2,303,521.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Aneri Jambusaria sold 1,930 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $222.37, for a total value of $429,174.10. Following the completion of the sale, the director now directly owns 1,802 shares of the company’s stock, valued at $400,710.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Enyedi sold 3,265 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $230.86, for a total transaction of $753,757.90. Following the transaction, the director now owns 9,978 shares in the company, valued at $2,303,521.08. The disclosure for this sale can be found here. Insiders sold 15,848 shares of company stock valued at $3,770,797 over the last three months. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of LPL Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC raised its holdings in shares of LPL Financial by 9.9% in the third quarter. V Square Quantitative Management LLC now owns 522 shares of the financial services provider’s stock valued at $124,000 after buying an additional 47 shares during the last quarter. Covestor Ltd raised its stake in LPL Financial by 13.6% during the 3rd quarter. Covestor Ltd now owns 417 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 50 shares during the last quarter. MONECO Advisors LLC lifted its position in LPL Financial by 2.8% during the 2nd quarter. MONECO Advisors LLC now owns 1,878 shares of the financial services provider’s stock worth $408,000 after acquiring an additional 51 shares during the period. First Horizon Advisors Inc. grew its stake in shares of LPL Financial by 12.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 496 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 55 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of LPL Financial by 2.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,588 shares of the financial services provider’s stock valued at $563,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 92.84% of the company’s stock.

LPL Financial Stock Up 1.6 %

Shares of LPLA opened at $224.46 on Friday. The firm has a market cap of $16.97 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 0.62 and a beta of 0.91. LPL Financial has a 12-month low of $179.00 and a 12-month high of $257.64. The company’s 50-day moving average price is $231.21 and its 200 day moving average price is $220.97. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.49.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.59 by $0.15. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.51 billion. LPL Financial had a net margin of 11.99% and a return on equity of 60.49%. LPL Financial’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.13 EPS. On average, sell-side analysts forecast that LPL Financial will post 15.44 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Thursday, November 9th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Wednesday, November 8th. LPL Financial’s dividend payout ratio (DPR) is 8.14%.

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.