LPL Financial (NASDAQ:LPLA) Trading Up 1.9% – What’s Next?

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) were up 1.9% during mid-day trading on Thursday . The stock traded as high as $369.84 and last traded at $369.20. Approximately 73,494 shares changed hands during trading, a decline of 89% from the average daily volume of 693,478 shares. The stock had previously closed at $362.20.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LPLA shares. Barclays increased their price objective on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and increased their price objective for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. JMP Securities reissued a “market outperform” rating and set a $435.00 price objective on shares of LPL Financial in a research report on Friday, January 31st. Finally, Morgan Stanley increased their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Trading Up 2.8 %

The stock has a market cap of $27.72 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 0.94 and a beta of 0.87. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The business’s 50 day simple moving average is $352.80 and its 200 day simple moving average is $295.52.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. On average, research analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

LPL Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s dividend payout ratio is currently 8.55%.

Insider Transactions at LPL Financial

In other news, CFO Matthew J. Audette sold 4,588 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $360.07, for a total transaction of $1,652,001.16. Following the completion of the sale, the chief financial officer now owns 16,538 shares in the company, valued at approximately $5,954,837.66. This trade represents a 21.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the sale, the director now owns 4,075 shares of the company’s stock, valued at approximately $1,490,838.75. This represents a 21.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,770 shares of company stock worth $12,663,312. 1.30% of the stock is owned by insiders.

Institutional Trading of LPL Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Graney & King LLC acquired a new stake in LPL Financial in the 4th quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new stake in LPL Financial in the 3rd quarter worth about $31,000. Fourth Dimension Wealth LLC acquired a new stake in LPL Financial in the 4th quarter worth about $40,000. Itau Unibanco Holding S.A. acquired a new stake in LPL Financial in the 4th quarter worth about $42,000. Finally, Brooklyn Investment Group acquired a new stake in LPL Financial in the 3rd quarter worth about $43,000. Institutional investors and hedge funds own 95.66% of the company’s stock.

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.