LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Free Report) gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $361.80, but opened at $375.74. LPL Financial shares last traded at $362.04, with a volume of 128,072 shares traded.
The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a return on equity of 49.47% and a net margin of 8.73%.
LPL Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.20 annualized dividend and a dividend yield of 0.33%. LPL Financial’s dividend payout ratio is currently 9.02%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Citigroup lifted their target price on LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, January 10th. The Goldman Sachs Group lifted their price objective on shares of LPL Financial from $271.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Morgan Stanley increased their target price on LPL Financial from $303.00 to $309.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a research report on Friday. Finally, Wells Fargo & Company lifted their target price on LPL Financial from $390.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $370.50.
Read Our Latest Analysis on LPLA
Insider Transactions at LPL Financial
In related news, Director Aneri Jambusaria sold 305 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were 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 directly owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This represents a 7.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On LPL Financial
Several large investors have recently made changes to their positions in LPLA. Ashton Thomas Securities LLC bought a new stake in shares of LPL Financial in the third quarter valued at approximately $31,000. Paladin Wealth LLC bought a new stake in LPL Financial in the 3rd quarter valued at $34,000. Brooklyn Investment Group acquired a new stake in LPL Financial in the 3rd quarter worth $43,000. Compass Financial Services Inc acquired a new position in shares of LPL Financial during the fourth quarter valued at about $65,000. Finally, R Squared Ltd acquired a new position in shares of LPL Financial during the fourth quarter valued at about $78,000. Institutional investors and hedge funds own 95.66% of the company’s stock.
LPL Financial Trading Up 1.4 %
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 $27.47 billion, a P/E ratio of 27.59, a PEG ratio of 1.11 and a beta of 0.87. The company’s 50 day moving average is $335.66 and its two-hundred day moving average is $274.06.
LPL Financial Company Profile
(Get Free Report)
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.
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