LPL Financial (NASDAQ:LPLA) Sets New 12-Month High at $92.99

LPL Financial Holdings Inc (NASDAQ:LPLA)’s stock price reached a new 52-week high on Monday . The stock traded as high as $92.99 and last traded at $91.68, with a volume of 406525 shares trading hands. The stock had previously closed at $92.35.

A number of analysts recently weighed in on LPLA shares. Zacks Investment Research raised shares of LPL Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. Citigroup boosted their price objective on LPL Financial from $105.00 to $110.00 and gave the stock a “sell” rating in a research note on Friday, November 15th. ValuEngine cut LPL Financial from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley decreased their target price on LPL Financial from $90.00 to $84.00 and set an “equal weight” rating for the company in a research report on Monday, October 14th. Finally, BidaskClub upgraded LPL Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $92.64.

The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.56. The stock has a market cap of $7.40 billion, a PE ratio of 17.17, a P/E/G ratio of 0.86 and a beta of 1.43. The company’s 50 day moving average is $85.44 and its 200-day moving average is $81.62.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.10. LPL Financial had a return on equity of 59.56% and a net margin of 10.07%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the firm earned $1.19 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. As a group, analysts forecast that LPL Financial Holdings Inc will post 7.15 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.09%. LPL Financial’s dividend payout ratio (DPR) is presently 18.76%.

In other news, CEO Dan H. Arnold sold 48,159 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $80.00, for a total value of $3,852,720.00. Following the completion of the sale, the chief executive officer now owns 227,784 shares of the company’s stock, valued at approximately $18,222,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George Burton White sold 51,140 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $86.34, for a total transaction of $4,415,427.60. Following the completion of the sale, the director now directly owns 40,809 shares of the company’s stock, valued at approximately $3,523,449.06. The disclosure for this sale can be found here. Insiders have sold a total of 149,600 shares of company stock worth $12,483,871 over the last 90 days. 2.20% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new stake in LPL Financial during the second quarter valued at approximately $34,000. Captrust Financial Advisors increased its holdings in shares of LPL Financial by 70,000.0% in the 2nd quarter. Captrust Financial Advisors now owns 701 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 700 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of LPL Financial in the 3rd quarter valued at approximately $75,000. Advisory Services Network LLC raised its position in shares of LPL Financial by 59.5% during the 2nd quarter. Advisory Services Network LLC now owns 965 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 360 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of LPL Financial by 610.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 987 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 848 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.

LPL Financial Company Profile (NASDAQ:LPLA)

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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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