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

LPL Financial Holdings Inc. (NASDAQ:LPLA) has been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $276.20.

A number of research firms have recently weighed in on LPLA. Barclays raised their target price on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a report on Monday, April 8th. TD Cowen raised their target price on LPL Financial from $269.00 to $271.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a report on Tuesday, April 2nd. JMP Securities restated a “market outperform” rating and issued a $305.00 target price on shares of LPL Financial in a report on Wednesday, May 1st. Finally, Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $254.00 to $315.00 in a report on Tuesday, April 9th.

Insider Activity

In other news, CEO Dan H. Arnold sold 5,677 shares of LPL Financial stock in a transaction on Friday, June 14th. The stock was sold at an average price of $277.31, for a total value of $1,574,288.87. Following the completion of the transaction, the chief executive officer now directly owns 142,608 shares in the company, valued at $39,546,624.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On LPL Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EdgeRock Capital LLC bought a new stake in LPL Financial during the fourth quarter worth about $25,000. GAMMA Investing LLC bought a new stake in LPL Financial during the fourth quarter worth about $30,000. Gladius Capital Management LP bought a new stake in LPL Financial during the fourth quarter worth about $30,000. Riverview Trust Co bought a new stake in LPL Financial during the first quarter worth about $30,000. Finally, American National Bank bought a new stake in LPL Financial during the fourth quarter worth about $32,000. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

LPL Financial Stock Up 1.0 %

LPLA stock opened at $279.30 on Friday. The stock’s 50 day simple moving average is $274.99 and its 200 day simple moving average is $258.27. LPL Financial has a fifty-two week low of $200.18 and a fifty-two week high of $289.88. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $20.87 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 1.10 and a beta of 0.89.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.44. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.68 billion. On average, research analysts expect that LPL Financial will post 15.85 earnings per share for the current fiscal year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, May 20th. LPL Financial’s dividend payout ratio (DPR) is presently 9.06%.

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.