LPL Financial Holdings Inc. (LPLA) Receives Average Recommendation of “Buy” from Analysts
LPL Financial Holdings Inc. (NASDAQ:LPLA) has earned an average recommendation of “Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $48.20.
A number of equities analysts recently commented on LPLA shares. Keefe, Bruyette & Woods restated a “buy” rating and issued a $48.00 price objective on shares of LPL Financial Holdings in a report on Tuesday, June 6th. Zacks Investment Research upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, July 4th. SunTrust Banks, Inc. restated a “hold” rating and issued a $42.00 price objective on shares of LPL Financial Holdings in a report on Tuesday, July 4th. Morgan Stanley restated an “underweight” rating and issued a $38.00 price objective (up previously from $35.00) on shares of LPL Financial Holdings in a report on Monday, July 10th. Finally, BidaskClub upgraded LPL Financial Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th.
Institutional investors have recently made changes to their positions in the business. Prudential Financial Inc. boosted its position in LPL Financial Holdings by 15.1% during the second quarter. Prudential Financial Inc. now owns 441,404 shares of the financial services provider’s stock worth $18,742,000 after purchasing an additional 57,830 shares during the period. Waratah Capital Advisors Ltd. bought a new stake in LPL Financial Holdings during the first quarter worth approximately $379,000. Legal & General Group Plc boosted its position in LPL Financial Holdings by 37.8% during the first quarter. Legal & General Group Plc now owns 72,661 shares of the financial services provider’s stock worth $2,893,000 after purchasing an additional 19,923 shares during the period. Canada Pension Plan Investment Board bought a new stake in LPL Financial Holdings during the second quarter worth approximately $4,034,000. Finally, Bogle Investment Management L P DE bought a new stake in LPL Financial Holdings during the first quarter worth approximately $1,296,000. 89.73% of the stock is owned by hedge funds and other institutional investors.
Shares of LPL Financial Holdings (NASDAQ:LPLA) traded down 0.02% on Wednesday, reaching $48.16. 70,206 shares of the company’s stock were exchanged. The company has a market capitalization of $4.33 billion, a P/E ratio of 20.92 and a beta of 1.84. The firm’s 50 day moving average price is $46.22 and its 200-day moving average price is $42.35. LPL Financial Holdings has a 12 month low of $28.38 and a 12 month high of $48.62.
LPL Financial Holdings (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.08. LPL Financial Holdings had a return on equity of 26.45% and a net margin of 5.10%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts anticipate that LPL Financial Holdings will post $2.40 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. LPL Financial Holdings’s payout ratio is currently 43.48%.
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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