LPL Financial (NASDAQ:LPLA) Sets New 1-Year High – Time to Buy?

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $334.83 and last traded at $331.00, with a volume of 81570 shares trading hands. The stock had previously closed at $322.06.

Analyst Ratings Changes

A number of analysts have weighed in on LPLA shares. The Goldman Sachs Group boosted their target price on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company upped their target price on LPL Financial from $310.00 to $390.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and lifted their price target for the company from $277.00 to $413.00 in a research note on Thursday. Jefferies Financial Group lowered their price objective on LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, JMP Securities reiterated a “market outperform” rating and set a $310.00 target price on shares of LPL Financial in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $322.75.

LPL Financial Trading Up 0.1 %

The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market cap of $24.56 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 1.61 and a beta of 0.86. The firm’s fifty day moving average is $302.23 and its 200-day moving average is $260.52.

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

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.37%. LPL Financial’s payout ratio is presently 9.02%.

Insiders Place Their Bets

In other 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 transaction of $101,241.70. Following the completion of the sale, the director now owns 3,920 shares in the company, valued at $1,301,204.80. The trade was a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of LPL Financial

Several hedge funds have recently bought and sold shares of LPLA. Ashton Thomas Private Wealth LLC acquired a new position in LPL Financial during the 2nd quarter valued at about $25,000. Key Financial Inc purchased a new position in shares of LPL Financial during the second quarter valued at approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in LPL Financial in the 3rd quarter valued at $31,000. Paladin Wealth LLC bought a new position in LPL Financial during the 3rd quarter valued at $34,000. Finally, Crewe Advisors LLC boosted its holdings in LPL Financial by 360.7% during the 2nd quarter. Crewe Advisors LLC now owns 129 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 101 shares during the last quarter. Institutional investors and hedge funds 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.