LPL Financial Holdings Inc. (NASDAQ:LPLA) Receives $401.93 Consensus PT from Brokerages

LPL Financial Holdings Inc. (NASDAQ:LPLA) has received an average rating of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $401.9286.

A number of equities analysts recently commented on LPLA shares. JPMorgan Chase & Co. increased their price target on LPL Financial from $433.00 to $439.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Morgan Stanley decreased their price objective on LPL Financial from $447.00 to $374.00 and set an “overweight” rating on the stock in a research report on Friday, April 10th. Citizens Jmp restated a “market outperform” rating and set a $500.00 price objective on shares of LPL Financial in a research report on Monday, April 6th. Citigroup reiterated a “market outperform” rating on shares of LPL Financial in a report on Tuesday, February 3rd. Finally, TD Cowen reiterated a “hold” rating on shares of LPL Financial in a report on Thursday, April 9th.

LPL Financial Stock Up 1.5%

LPLA stock opened at $317.41 on Friday. LPL Financial has a 1-year low of $281.51 and a 1-year high of $403.58. The business has a fifty day moving average price of $311.23 and a 200-day moving average price of $341.98. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.45 and a quick ratio of 2.45. The stock has a market capitalization of $25.45 billion, a P/E ratio of 28.83, a P/E/G ratio of 0.86 and a beta of 0.56.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $5.23 EPS for the quarter, beating analysts’ consensus estimates of $4.82 by $0.41. LPL Financial had a return on equity of 34.19% and a net margin of 5.08%.The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the business earned $4.25 earnings per share. LPL Financial’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts forecast that LPL Financial will post 19.35 earnings per share for the current fiscal year.

LPL Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Tuesday, March 10th. LPL Financial’s dividend payout ratio is presently 10.90%.

Insider Transactions at LPL Financial

In other news, Director Matthew Enyedi sold 2,109 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $320.15, for a total value of $675,196.35. Following the sale, the director directly owned 14,121 shares in the company, valued at approximately $4,520,838.15. This represents a 12.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Marc Eliot Cohen sold 1,088 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $309.72, for a total value of $336,975.36. Following the completion of the sale, the director owned 4,400 shares in the company, valued at approximately $1,362,768. The trade was a 19.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 8,569 shares of company stock worth $2,720,733. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of LPL Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its position in shares of LPL Financial by 42.7% in the 1st quarter. NewEdge Advisors LLC now owns 3,525 shares of the financial services provider’s stock worth $1,153,000 after purchasing an additional 1,055 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of LPL Financial by 0.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 209,126 shares of the financial services provider’s stock worth $68,414,000 after purchasing an additional 1,089 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of LPL Financial in the 1st quarter worth $1,636,000. Focus Partners Wealth boosted its position in shares of LPL Financial by 12.2% in the 1st quarter. Focus Partners Wealth now owns 4,360 shares of the financial services provider’s stock worth $1,426,000 after purchasing an additional 473 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of LPL Financial in the 1st quarter worth $121,000. Institutional investors own 95.66% of the company’s stock.

LPL Financial Company Profile

LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.

The firm’s product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.