LPL Financial Holdings Inc. (LPLA) Announces Earnings Results
LPL Financial Holdings Inc. (NASDAQ:LPLA) posted its earnings results on Thursday. The financial services provider reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.08, Bloomberg Earnings reports. LPL Financial Holdings had a return on equity of 25.04% and a net margin of 4.65%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $0.53 earnings per share. LPL Financial Holdings’s quarterly revenue was up 4.5% compared to the same quarter last year.
LPL Financial Holdings (NASDAQ:LPLA) traded down 1.85% during trading on Thursday, reaching $45.13. The company had a trading volume of 1,984,239 shares. The stock has a 50 day moving average price of $42.70 and a 200 day moving average price of $40.53. LPL Financial Holdings has a 12 month low of $23.88 and a 12 month high of $46.62. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 21.59 and a beta of 1.82.
In other LPL Financial Holdings news, insider William P. Jr. Morrissey sold 32,150 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $39.34, for a total transaction of $1,264,781.00. Following the transaction, the insider now owns 49,691 shares of the company’s stock, valued at approximately $1,954,843.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.70% of the stock is currently owned by corporate insiders.
LPLA has been the topic of several recent research reports. Keefe, Bruyette & Woods set a $44.00 price objective on LPL Financial Holdings and gave the company a “hold” rating in a research report on Thursday, April 6th. Instinet upgraded LPL Financial Holdings from a “neutral” rating to a “buy” rating and upped their price objective for the company from $46.00 to $51.00 in a research report on Friday, April 28th. Morgan Stanley restated an “underweight” rating and issued a $38.00 price objective (up from $35.00) on shares of LPL Financial Holdings in a research report on Monday, July 10th. Citigroup Inc. upped their price objective on LPL Financial Holdings from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. Finally, Zacks Investment Research downgraded LPL Financial Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $42.73.
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About LPL Financial Holdings
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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