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

LPL Financial Holdings Inc. (NASDAQ:LPLA) has earned a consensus rating of “Buy” from the twelve analysts that are covering the firm, Marketbeat reports. Twelve investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $374.42.

A number of analysts recently issued reports on LPLA shares. JMP Securities increased their target price on LPL Financial from $420.00 to $440.00 and gave the stock a “market outperform” rating in a research note on Friday, May 9th. UBS Group raised their price target on shares of LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Morgan Stanley raised their price target on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Barclays raised their price target on shares of LPL Financial from $365.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company decreased their price target on shares of LPL Financial from $405.00 to $342.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th.

Insider Activity

In other LPL Financial news, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the completion of the sale, the director now owns 4,075 shares of the company’s stock, valued at $1,490,838.75. This trade represents a 21.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total value of $1,652,001.16. Following the sale, the chief financial officer now directly owns 16,538 shares of the company’s stock, valued at $5,954,837.66. This represents a 21.72% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LPL Financial

Several hedge funds have recently added to or reduced their stakes in LPLA. Summit Securities Group LLC acquired a new stake in LPL Financial during the 1st quarter valued at $26,000. Millstone Evans Group LLC lifted its holdings in LPL Financial by 123.1% during the 1st quarter. Millstone Evans Group LLC now owns 87 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 48 shares during the last quarter. Graney & King LLC acquired a new stake in LPL Financial during the 4th quarter valued at $30,000. Private Trust Co. NA lifted its holdings in LPL Financial by 234.5% during the 1st quarter. Private Trust Co. NA now owns 97 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 68 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in LPL Financial by 63.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 100 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

LPL Financial Price Performance

NASDAQ LPLA opened at $384.20 on Wednesday. The business has a 50 day simple moving average of $328.88 and a 200 day simple moving average of $334.94. LPL Financial has a 52-week low of $187.19 and a 52-week high of $390.23. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a market cap of $30.73 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 0.94 and a beta of 0.65.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, May 8th. The financial services provider reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.54 by $0.61. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same period in the prior year, the business earned $3.83 EPS. LPL Financial’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts anticipate that LPL Financial will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 30th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, May 30th. LPL Financial’s payout ratio is presently 8.30%.

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, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.