LPL Financial Holdings Inc. (NASDAQ:LPLA) Given Average Recommendation of “Moderate Buy” by Brokerages

LPL Financial Holdings Inc. (NASDAQ:LPLA) has been assigned an average rating of “Moderate Buy” from the seventeen research firms that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $429.00.

A number of research firms have recently issued reports on LPLA. Rothschild & Co Redburn cut LPL Financial from a “buy” rating to a “neutral” rating and set a $390.00 price objective for the company. in a research report on Friday, September 19th. UBS Group set a $455.00 price target on LPL Financial in a research note on Thursday, October 9th. Barclays lifted their price objective on shares of LPL Financial from $411.00 to $420.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. BMO Capital Markets assumed coverage on shares of LPL Financial in a research report on Friday, October 3rd. They issued an “outperform” rating and a $365.00 price objective on the stock. Finally, The Goldman Sachs Group restated a “buy” rating and set a $421.00 target price on shares of LPL Financial in a research note on Friday, October 31st.

LPL Financial Stock Performance

Shares of LPLA stock opened at $371.01 on Friday. The company has a fifty day moving average price of $347.57 and a two-hundred day moving average price of $360.72. LPL Financial has a one year low of $262.83 and a one year high of $403.58. The stock has a market cap of $29.70 billion, a P/E ratio of 34.16, a P/E/G ratio of 0.82 and a beta of 0.60. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.60 and a quick ratio of 2.60.

LPL Financial (NASDAQ:LPLA) last issued its earnings results on Thursday, October 30th. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.49 by $0.71. LPL Financial had a net margin of 5.35% and a return on equity of 36.80%. The company had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the firm earned $4.16 EPS. LPL Financial’s quarterly revenue was up 46.4% compared to the same quarter last year. As a group, equities analysts predict that LPL Financial will post 19.35 EPS for the current year.

LPL Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Thursday, November 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, November 13th. LPL Financial’s payout ratio is currently 11.05%.

Insider Activity at LPL Financial

In other news, Director Greg Gates sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $376.43, for a total value of $564,645.00. Following the completion of the sale, the director owned 15,370 shares of the company’s stock, valued at approximately $5,785,729.10. The trade was a 8.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Aneri Jambusaria sold 80 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $352.48, for a total transaction of $28,198.40. Following the transaction, the director directly owned 5,502 shares in the company, valued at approximately $1,939,344.96. This represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,330 shares of company stock worth $828,658 in the last ninety days. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On LPL Financial

Several institutional investors have recently made changes to their positions in the stock. Lynwood Price Capital Management LP boosted its stake in LPL Financial by 9.3% in the third quarter. Lynwood Price Capital Management LP now owns 59,000 shares of the financial services provider’s stock valued at $19,629,000 after buying an additional 5,000 shares in the last quarter. Severin Investments LLC bought a new position in shares of LPL Financial in the third quarter worth about $502,000. Prana Capital Management LP lifted its holdings in shares of LPL Financial by 105.1% in the third quarter. Prana Capital Management LP now owns 8,607 shares of the financial services provider’s stock worth $2,863,000 after acquiring an additional 4,410 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of LPL Financial in the 3rd quarter valued at approximately $954,000. Finally, Danske Bank A S bought a new stake in shares of LPL Financial during the 3rd quarter valued at approximately $43,726,000. 95.66% of the stock is currently owned by institutional investors.

About LPL Financial

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.