LPL Financial Holdings Inc (LPLA) Receives Consensus Recommendation of “Buy” from Analysts
Shares of LPL Financial Holdings Inc (NASDAQ:LPLA) have earned an average recommendation of “Buy” from the eleven ratings firms that are presently covering the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $41.67.
A number of analysts have commented on the company. SunTrust Banks, Inc. boosted their price objective on LPL Financial Holdings from $39.00 to $42.00 and gave the stock a “hold” rating in a report on Friday, February 10th. Goldman Sachs Group Inc raised LPL Financial Holdings from a “neutral” rating to a “conviction-buy” rating and boosted their price objective for the stock from $44.00 to $47.00 in a report on Monday, March 20th. Keefe, Bruyette & Woods set a $44.00 price objective on LPL Financial Holdings and gave the stock a “hold” rating in a report on Thursday, April 6th. Nomura reissued a “hold” rating and set a $46.00 price objective on shares of LPL Financial Holdings in a report on Sunday, April 9th. Finally, Zacks Investment Research lowered LPL Financial Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th.
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In other news, insider Tracy Calder sold 6,465 shares of the company’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $39.31, for a total value of $254,139.15. Following the transaction, the insider now owns 34,165 shares of the company’s stock, valued at $1,343,026.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Dan H. Arnold sold 15,428 shares of the company’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $39.14, for a total transaction of $603,851.92. Following the completion of the transaction, the chief executive officer now directly owns 230,112 shares in the company, valued at approximately $9,006,583.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 511,481 shares of company stock worth $20,727,715. Insiders own 5.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LPLA. Independent Advisor Alliance purchased a new position in LPL Financial Holdings during the fourth quarter valued at $100,000. Tyers Asset Management LLC purchased a new position in LPL Financial Holdings during the first quarter worth approximately $138,000. James Investment Research Inc. purchased a new position in LPL Financial Holdings during the first quarter worth approximately $142,000. TLP Group LLC purchased a new position in LPL Financial Holdings during the third quarter worth approximately $164,000. Finally, SG Americas Securities LLC purchased a new position in LPL Financial Holdings during the first quarter worth approximately $171,000.
LPL Financial Holdings (NASDAQ:LPLA) remained flat at $42.62 during midday trading on Tuesday. 23,931 shares of the stock were exchanged. The company has a 50-day moving average of $40.22 and a 200-day moving average of $38.52. LPL Financial Holdings has a 1-year low of $20.51 and a 1-year high of $43.79. The company has a market cap of $3.85 billion, a P/E ratio of 20.39 and a beta of 1.85.
LPL Financial Holdings (NASDAQ:LPLA) last issued its earnings results on Thursday, April 27th. The financial services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.30. LPL Financial Holdings had a return on equity of 25.39% and a net margin of 4.74%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company posted $0.56 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that LPL Financial Holdings will post $2.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Monday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $1.00 annualized dividend and a dividend yield of 2.35%. LPL Financial Holdings’s dividend payout ratio is currently 46.95%.
LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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