LPL Financial Holdings Inc. (NASDAQ:LPLA) Receives $379.17 Average PT from Brokerages

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have been assigned a consensus recommendation of “Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. Twelve analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $380.42.

Several equities analysts have issued reports on the company. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and boosted their price target for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. Citigroup dropped their target price on shares of LPL Financial from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $435.00 price target on shares of LPL Financial in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a 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.

LPL Financial Trading Down 9.4 %

LPLA opened at $283.31 on Tuesday. LPL Financial has a twelve month low of $187.19 and a twelve month high of $384.04. The company has a fifty day moving average of $348.34 and a 200-day moving average of $315.70. The stock has a market cap of $21.13 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. On average, sell-side analysts predict that LPL Financial will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Tuesday, March 11th. LPL Financial’s payout ratio is currently 8.55%.

Insider Buying and Selling at LPL Financial

In other LPL Financial news, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the sale, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Marc Eliot Cohen sold 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total value of $402,435.00. Following the completion of the transaction, the director now owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,465 shares of company stock worth $12,562,070. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Graney & King LLC bought a new position in shares of LPL Financial during the 4th quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB grew its holdings in LPL Financial by 63.9% during the first 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 period. Fourth Dimension Wealth LLC purchased a new stake in LPL Financial in the fourth quarter worth $40,000. Itau Unibanco Holding S.A. bought a new stake in shares of LPL Financial in the fourth quarter valued at $42,000. Finally, Jones Financial Companies Lllp raised its stake in shares of LPL Financial by 45.3% in the fourth quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock valued at $45,000 after buying an additional 43 shares during the period. Institutional investors own 95.66% of the company’s stock.

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.