LPL Financial Holdings Inc. (NASDAQ:LPLA) has been given a consensus rating of “Buy” by the eleven research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $129.35.
Several equities analysts recently commented on the stock. Citigroup increased their price objective on shares of LPL Financial from $171.00 to $203.00 in a research note on Monday, February 8th. Morgan Stanley raised their price objective on LPL Financial from $166.00 to $190.00 and gave the company an “overweight” rating in a report on Monday. UBS Group boosted their price objective on LPL Financial from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 6th. Finally, Barclays increased their target price on LPL Financial from $61.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, April 12th. They noted that the move was a valuation call.
Shares of LPL Financial stock traded up $4.49 during trading on Friday, reaching $149.97. 453,842 shares of the company’s stock were exchanged, compared to its average volume of 595,046. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.31 and a current ratio of 1.30. LPL Financial has a 1-year low of $60.60 and a 1-year high of $159.74. The company has a market cap of $11.99 billion, a P/E ratio of 24.95 and a beta of 1.49. The firm’s 50-day moving average price is $147.82 and its 200 day moving average price is $120.51.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 7th. Shareholders of record on Monday, May 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Friday, May 21st. LPL Financial’s dividend payout ratio is presently 13.93%.
In other news, CEO Dan H. Arnold sold 7,974 shares of LPL Financial stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $130.86, for a total value of $1,043,477.64. Following the completion of the transaction, the chief executive officer now directly owns 202,095 shares of the company’s stock, valued at approximately $26,446,151.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director George Burton White sold 50,608 shares of the business’s stock in a transaction dated Wednesday, May 12th. The shares were sold at an average price of $146.56, for a total value of $7,417,108.48. Following the completion of the transaction, the director now directly owns 63,102 shares in the company, valued at $9,248,229.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 170,742 shares of company stock valued at $24,900,091. Company insiders own 2.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of LPLA. BlackRock Inc. boosted its holdings in shares of LPL Financial by 7.4% during the 1st quarter. BlackRock Inc. now owns 3,605,379 shares of the financial services provider’s stock worth $512,540,000 after buying an additional 247,187 shares in the last quarter. Wells Fargo & Company MN boosted its stake in LPL Financial by 252.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,059,980 shares of the financial services provider’s stock worth $110,470,000 after acquiring an additional 759,374 shares in the last quarter. Junto Capital Management LP grew its holdings in LPL Financial by 19.4% in the fourth quarter. Junto Capital Management LP now owns 1,057,559 shares of the financial services provider’s stock worth $110,219,000 after purchasing an additional 172,075 shares during the period. Frontier Capital Management Co. LLC increased its stake in LPL Financial by 220.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,050,817 shares of the financial services provider’s stock valued at $109,516,000 after purchasing an additional 722,589 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in LPL Financial by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 958,957 shares of the financial services provider’s stock valued at $99,942,000 after purchasing an additional 11,644 shares in the last quarter. Institutional investors and hedge funds own 95.68% of the company’s stock.
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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
Further Reading: Price-Sales Ratio
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