LPL Financial Holdings Inc. (NASDAQ:LPLA) Receives $285.20 Consensus PT from Analysts

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have received an average rating of “Hold” from the eleven research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $286.80.

A number of research firms have recently commented on LPLA. Jefferies Financial Group boosted their price target on shares of LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Raymond James began coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating for the company. JPMorgan Chase & Co. boosted their price target on shares of LPL Financial from $261.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. JMP Securities boosted their price target on shares of LPL Financial from $305.00 to $310.00 and gave the company a “market outperform” rating in a research report on Friday, July 26th. Finally, Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $254.00 to $315.00 in a research report on Tuesday, April 9th.

LPL Financial Stock Down 0.0 %

LPL Financial stock opened at $221.52 on Thursday. LPL Financial has a twelve month low of $200.18 and a twelve month high of $289.88. The firm has a 50 day moving average price of $266.38 and a 200-day moving average price of $261.86. The company has a market capitalization of $16.55 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.27 and a beta of 0.90. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 54.38%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the previous year, the business earned $3.94 EPS. LPL Financial’s revenue was up 18.8% compared to the same quarter last year. As a group, equities analysts predict that LPL Financial will post 15.9 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, August 9th. LPL Financial’s dividend payout ratio is currently 9.06%.

Insiders Place Their Bets

In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $277.31, for a total value of $1,574,288.87. Following the completion of the sale, the chief executive officer now directly owns 142,608 shares of the company’s stock, valued at $39,546,624.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LPL Financial

A number of hedge funds have recently modified their holdings of LPLA. Raymond James Financial Services Advisors Inc. increased its position in shares of LPL Financial by 66.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,219 shares of the financial services provider’s stock valued at $2,098,000 after acquiring an additional 3,691 shares during the period. Quent Capital LLC lifted its stake in shares of LPL Financial by 12.5% in the fourth quarter. Quent Capital LLC now owns 872 shares of the financial services provider’s stock worth $198,000 after buying an additional 97 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its stake in shares of LPL Financial by 4.3% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 44,244 shares of the financial services provider’s stock worth $10,511,000 after buying an additional 1,833 shares in the last quarter. State of Michigan Retirement System lifted its stake in shares of LPL Financial by 21.4% in the fourth quarter. State of Michigan Retirement System now owns 1,700 shares of the financial services provider’s stock worth $387,000 after buying an additional 300 shares in the last quarter. Finally, Integrated Investment Consultants LLC lifted its stake in shares of LPL Financial by 26.9% in the fourth quarter. Integrated Investment Consultants LLC now owns 5,661 shares of the financial services provider’s stock worth $1,289,000 after buying an additional 1,199 shares in the last quarter. Hedge funds and other institutional investors own 95.66% 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 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.