LPL Financial (NASDAQ:LPLA) Sets New 52-Week High – Time to Buy?

LPL Financial Holdings Inc. (NASDAQ:LPLA) shares reached a new 52-week high on Wednesday . The company traded as high as $303.59 and last traded at $302.51, with a volume of 22377 shares changing hands. The stock had previously closed at $275.81.

Wall Street Analyst Weigh In

LPLA has been the subject of several research analyst reports. StockNews.com raised shares of LPL Financial from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. TD Cowen boosted their target price on shares of LPL Financial from $271.00 to $277.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th. Bank of America raised shares of LPL Financial from a “neutral” rating to a “buy” rating and set a $268.00 target price on the stock in a report on Tuesday, July 30th. Finally, Morgan Stanley boosted their price target on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $286.92.

LPL Financial Stock Up 10.5 %

The company has a 50-day simple moving average of $237.32 and a two-hundred day simple moving average of $248.64. The stock has a market cap of $22.78 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.39 and a beta of 0.85. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.77.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.47. LPL Financial had a return on equity of 52.08% and a net margin of 8.73%. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the previous year, the business earned $3.74 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that LPL Financial Holdings Inc. will post 15.92 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Thursday, November 14th. LPL Financial’s dividend payout ratio (DPR) is currently 9.02%.

Institutional Investors Weigh In On LPL Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bridges Investment Management Inc. grew its holdings in LPL Financial by 3.2% during the 3rd quarter. Bridges Investment Management Inc. now owns 1,185 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 37 shares in the last quarter. MFA Wealth Advisors LLC raised its position in shares of LPL Financial by 3.9% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,148 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 43 shares during the last quarter. Metis Global Partners LLC boosted its stake in LPL Financial by 5.1% in the 3rd quarter. Metis Global Partners LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 46 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in LPL Financial by 2.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,218 shares of the financial services provider’s stock worth $516,000 after purchasing an additional 49 shares in the last quarter. Finally, Stephens Inc. AR grew its position in LPL Financial by 5.2% during the 3rd quarter. Stephens Inc. AR now owns 1,054 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors 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.