LPL Financial (NASDAQ:LPLA) Hits New 52-Week High – Here’s What Happened

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $334.93 and last traded at $334.93, with a volume of 145329 shares. The stock had previously closed at $329.01.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LPLA. JMP Securities reaffirmed a “market outperform” rating and issued a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and raised their target price for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. UBS Group upped their price target on shares of LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of LPL Financial from $325.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $322.75.

LPL Financial Stock Performance

The stock’s 50 day moving average is $305.47 and its 200 day moving average is $260.92. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market cap of $25.08 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.47. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.74 earnings per share. Analysts anticipate that LPL Financial Holdings Inc. will post 16.1 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Thursday, November 14th. LPL Financial’s dividend payout ratio is currently 9.02%.

Insider Activity at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LPL Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake in LPL Financial by 15.7% in the third quarter. Principal Financial Group Inc. now owns 25,418 shares of the financial services provider’s stock valued at $5,913,000 after purchasing an additional 3,444 shares in the last quarter. Tidal Investments LLC increased its holdings in LPL Financial by 98.9% in the 3rd quarter. Tidal Investments LLC now owns 7,662 shares of the financial services provider’s stock valued at $1,782,000 after buying an additional 3,809 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of LPL Financial in the 3rd quarter valued at approximately $182,000. Sanctuary Advisors LLC lifted its holdings in shares of LPL Financial by 25.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 16,399 shares of the financial services provider’s stock worth $3,815,000 after acquiring an additional 3,339 shares during the period. Finally, Anchor Investment Management LLC boosted its position in shares of LPL Financial by 15.6% during the 3rd quarter. Anchor Investment Management LLC now owns 9,669 shares of the financial services provider’s stock worth $2,249,000 after acquiring an additional 1,304 shares in the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

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.