LPL Financial (NASDAQ:LPLA) Sets New 12-Month High – What’s Next?

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

Analysts Set New Price Targets

Several analysts recently commented on LPLA shares. TD Cowen upped their price target 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. JPMorgan Chase & Co. upped their target price on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. JMP Securities reissued a “market outperform” rating and set a $310.00 price target on shares of LPL Financial in a report on Wednesday, October 9th. Keefe, Bruyette & Woods dropped their price target on LPL Financial from $326.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, UBS Group increased their price objective on LPL Financial from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $286.92.

LPL Financial Stock Down 1.1 %

The firm’s 50-day simple moving average is $240.71 and its 200 day simple moving average is $249.45. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market capitalization of $22.83 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 1.34 and a beta of 0.85.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $4.16 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.47. LPL Financial had a net margin of 8.73% and a return on equity of 52.08%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the business posted $3.74 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that LPL Financial Holdings Inc. will post 16.03 earnings per share for the current year.

LPL Financial Dividend Announcement

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

Institutional Trading of LPL Financial

Large investors have recently bought and sold shares of the company. Intech Investment Management LLC boosted its position in shares of LPL Financial by 38.8% in the 1st quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider’s stock worth $11,057,000 after buying an additional 11,703 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of LPL Financial by 533.8% in the first quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider’s stock valued at $1,359,000 after purchasing an additional 4,340 shares during the last quarter. Swedbank AB purchased a new position in shares of LPL Financial during the 1st quarter worth approximately $3,648,000. Sei Investments Co. raised its position in shares of LPL Financial by 23.4% during the 1st quarter. Sei Investments Co. now owns 113,254 shares of the financial services provider’s stock worth $29,923,000 after purchasing an additional 21,481 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in LPL Financial by 5.4% in the 2nd quarter. Raymond James & Associates now owns 394,091 shares of the financial services provider’s stock valued at $110,070,000 after buying an additional 20,123 shares in 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.