LPL Financial Holdings Inc. (NASDAQ:LPLA) Receives $351.50 Consensus PT from Analysts

LPL Financial Holdings Inc. (NASDAQ:LPLA) has received an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and twelve have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $351.50.

Several research analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. TD Cowen raised shares of LPL Financial from a “hold” rating to a “buy” rating and upped their price objective for the company from $277.00 to $413.00 in a research note on Thursday, December 19th. Jefferies Financial Group decreased their target price on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Barclays boosted their price target on LPL Financial from $378.00 to $379.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, JMP Securities restated a “market outperform” rating and set a $310.00 price objective on shares of LPL Financial in a report on Wednesday, October 9th.

Insider Buying and Selling at LPL Financial

In related news, Director Aneri Jambusaria sold 305 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total value of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LPL Financial

Several institutional investors and hedge funds have recently modified their holdings of LPLA. Ashton Thomas Private Wealth LLC acquired a new position in shares of LPL Financial during the second quarter worth $25,000. Ashton Thomas Securities LLC acquired a new position in LPL Financial in the 3rd quarter worth $31,000. Paladin Wealth LLC purchased a new position in LPL Financial in the 3rd quarter valued at about $34,000. Brooklyn Investment Group acquired a new stake in shares of LPL Financial during the third quarter valued at about $43,000. Finally, First Horizon Advisors Inc. increased its position in shares of LPL Financial by 32.3% during the third quarter. First Horizon Advisors Inc. now owns 385 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.

LPL Financial Trading Up 0.8 %

Shares of LPLA opened at $348.93 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. LPL Financial has a 1-year low of $187.19 and a 1-year high of $350.38. The stock has a market cap of $26.13 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.03 and a beta of 0.87. The firm has a 50 day simple moving average of $328.24 and a 200-day simple moving average of $268.24.

LPL Financial (NASDAQ:LPLA) last released its quarterly 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 return on equity of 49.47% and a net margin of 8.73%. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the business posted $3.74 earnings per share. LPL Financial’s revenue was up 6.0% compared to the same quarter last year. Equities analysts forecast that LPL Financial will post 16.07 EPS for the current fiscal year.

LPL Financial Announces Dividend

The firm 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. This represents a $1.20 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Thursday, November 14th. LPL Financial’s dividend payout ratio (DPR) is presently 9.02%.

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.