LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Rating) has earned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $228.86.
A number of brokerages have issued reports on LPLA. Citigroup lifted their price objective on LPL Financial from $225.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, April 14th. StockNews.com cut LPL Financial from a “hold” rating to a “sell” rating in a report on Monday, May 2nd. JMP Securities raised LPL Financial from a “market perform” rating to an “outperform” rating and set a $242.00 price target for the company in a report on Thursday, April 7th. Morgan Stanley lifted their price target on LPL Financial from $246.00 to $263.00 and gave the company an “overweight” rating in a report on Wednesday, April 13th. Finally, Truist Financial lifted their price target on LPL Financial from $200.00 to $230.00 in a report on Tuesday, May 3rd.
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In other news, CEO Dan H. Arnold sold 19,508 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $200.36, for a total transaction of $3,908,622.88. Following the completion of the transaction, the chief executive officer now directly owns 162,608 shares in the company, valued at approximately $32,580,138.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Enyedi sold 1,900 shares of the business’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $159.25, for a total value of $302,575.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,132 shares of company stock valued at $6,919,342 over the last three months. Company insiders own 1.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of LPLA. Morgan Stanley grew its position in shares of LPL Financial by 136.1% during the 2nd quarter. Morgan Stanley now owns 281,726 shares of the financial services provider’s stock worth $38,027,000 after buying an additional 162,405 shares during the period. Legacy Wealth Planning LLC acquired a new position in shares of LPL Financial in the 3rd quarter valued at approximately $224,000. The Manufacturers Life Insurance Company grew its position in shares of LPL Financial by 160.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,170 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 2,571 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of LPL Financial by 410.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 393 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 316 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of LPL Financial by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 994,871 shares of the financial services provider’s stock valued at $155,970,000 after purchasing an additional 6,702 shares during the period. Institutional investors own 96.06% of the company’s stock.
Shares of NASDAQ LPLA opened at $188.65 on Friday. The stock has a market cap of $15.09 billion, a PE ratio of 33.21, a PEG ratio of 0.56 and a beta of 0.95. The business has a fifty day moving average of $191.62 and a two-hundred day moving average of $177.85. LPL Financial has a 52-week low of $127.03 and a 52-week high of $220.80. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.83 and a current ratio of 1.83.
LPL Financial (NASDAQ:LPLA – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.16. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.14 billion. LPL Financial had a return on equity of 35.82% and a net margin of 5.74%. The business’s revenue was up 21.0% on a year-over-year basis. During the same period last year, the business earned $1.77 earnings per share. Analysts predict that LPL Financial will post 9.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Thursday, June 9th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 8th. This represents a $1.00 annualized dividend and a yield of 0.53%. LPL Financial’s dividend payout ratio is currently 17.61%.
About LPL Financial (Get Rating)
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 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and auction rate notes.
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