LPL Financial (NASDAQ:LPLA) Stock Price Up 0.5%

LPL Financial Holdings Inc. (NASDAQ:LPLA) was up 0.5% during mid-day trading on Thursday . The stock traded as high as $261.13 and last traded at $260.29. Approximately 30,793 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 527,929 shares. The stock had previously closed at $259.11.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Raymond James assumed coverage on shares of LPL Financial in a research report on Thursday, April 4th. They set an “underperform” rating on the stock. UBS Group boosted their price target on shares of LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Barclays boosted their price target on shares of LPL Financial from $302.00 to $312.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. boosted their price target on shares of LPL Financial from $254.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $254.00 to $315.00 in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $268.36.

LPL Financial Stock Up 1.1 %

The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $19.62 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 1.26 and a beta of 0.84. The firm’s fifty day simple moving average is $262.88 and its two-hundred day simple moving average is $240.77.

LPL Financial (NASDAQ:LPLA) last posted its earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.18. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. LPL Financial had a net margin of 10.61% and a return on equity of 57.68%. LPL Financial’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $4.21 EPS. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 15.55 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Monday, March 11th. LPL Financial’s dividend payout ratio (DPR) is 8.79%.

Insider Activity

In other news, CFO Matthew J. Audette sold 5,574 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $266.52, for a total value of $1,485,582.48. Following the sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at approximately $3,641,462.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Matthew J. Audette sold 5,574 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $266.52, for a total value of $1,485,582.48. Following the sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at approximately $3,641,462.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Enyedi sold 1,381 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $256.94, for a total transaction of $354,834.14. Following the sale, the director now directly owns 8,634 shares in the company, valued at $2,218,419.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,151 shares of company stock valued at $15,911,088. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Several large investors have recently added to or reduced their stakes in LPLA. EdgeRock Capital LLC purchased a new stake in LPL Financial during the 4th quarter worth approximately $25,000. First Manhattan Co. purchased a new stake in LPL Financial during the 4th quarter worth approximately $27,000. Smithfield Trust Co increased its stake in LPL Financial by 164.4% during the 3rd quarter. Smithfield Trust Co now owns 119 shares of the financial services provider’s stock worth $28,000 after buying an additional 74 shares during the period. GAMMA Investing LLC purchased a new stake in shares of LPL Financial in the 4th quarter valued at approximately $30,000. Finally, Gladius Capital Management LP purchased a new stake in shares of LPL Financial in the 4th quarter valued at approximately $30,000. 95.66% of the stock is owned by hedge funds and other institutional investors.

LPL Financial Company Profile

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.