LPL Financial Holdings Inc. (NASDAQ:LPLA) Given Consensus Recommendation of “Hold” by Brokerages

LPL Financial Holdings Inc. (NASDAQ:LPLA) has earned an average rating of “Hold” from the nine brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $268.36.

Several equities research analysts have recently weighed in on the stock. TD Cowen increased their price objective on shares of LPL Financial from $266.00 to $269.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. lifted their price objective on shares of LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. Barclays boosted their price target on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $254.00 to $315.00 in a report on Tuesday, April 9th. Finally, Raymond James initiated coverage on shares of LPL Financial in a report on Thursday, April 4th. They set an “underperform” rating on the stock.

Insiders Place Their Bets

In related news, CEO Dan H. Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the sale, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the sale, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at approximately $35,131,229.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dan H. Arnold sold 34,807 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.54, for a total value of $9,277,457.78. Following the sale, the chief executive officer now directly owns 141,810 shares of the company’s stock, valued at $37,798,037.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,151 shares of company stock worth $15,911,088. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

Institutional investors have recently added to or reduced their stakes in the business. EdgeRock Capital LLC purchased a new stake in LPL Financial in the fourth quarter valued at approximately $25,000. First Manhattan Co. purchased a new stake in shares of LPL Financial during the fourth quarter worth approximately $27,000. Smithfield Trust Co raised its stake in shares of LPL Financial by 164.4% during the third quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 74 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of LPL Financial during the fourth quarter worth approximately $30,000. Finally, Gladius Capital Management LP purchased a new stake in shares of LPL Financial during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Stock Performance

Shares of LPLA stock opened at $263.00 on Tuesday. The stock has a market cap of $19.65 billion, a P/E ratio of 19.27, a P/E/G ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. The company has a fifty day moving average price of $261.60 and a two-hundred day moving average price of $240.18. LPL Financial has a one year low of $179.00 and a one year high of $274.35.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.18. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.21 EPS. As a group, equities analysts predict that LPL Financial will post 15.55 EPS for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.46%. LPL Financial’s payout ratio is currently 8.79%.

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 enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.