Brokerages Set LPL Financial Holdings Inc (NASDAQ:LPLA) Price Target at $84.16

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Shares of LPL Financial Holdings Inc (NASDAQ:LPLA) have received a consensus rating of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $84.16.

A number of brokerages recently issued reports on LPLA. Goldman Sachs Group lowered shares of LPL Financial from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, April 2nd. Compass Point lowered shares of LPL Financial from a “buy” rating to a “neutral” rating and set a $84.13 price target for the company. in a research note on Wednesday, May 8th. BidaskClub lowered shares of LPL Financial from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Zacks Investment Research upgraded shares of LPL Financial from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Wednesday, May 8th. Finally, Citigroup lifted their price target on shares of LPL Financial from $95.00 to $102.00 and gave the stock an “underweight” rating in a research note on Thursday, May 23rd.

In other LPL Financial news, insider Michelle Oroschakoff sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $84.51, for a total transaction of $507,060.00. Following the completion of the sale, the insider now owns 15,563 shares in the company, valued at $1,315,229.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Dan H. Arnold sold 1,222 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $85.00, for a total transaction of $103,870.00. Following the transaction, the chief executive officer now directly owns 230,068 shares of the company’s stock, valued at approximately $19,555,780. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,722 shares of company stock valued at $653,055. 2.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in LPLA. Vanguard Group Inc boosted its holdings in shares of LPL Financial by 2.6% during the third quarter. Vanguard Group Inc now owns 9,789,045 shares of the financial services provider’s stock valued at $631,492,000 after acquiring an additional 243,618 shares during the period. CWM LLC boosted its holdings in shares of LPL Financial by 66.7% during the fourth quarter. CWM LLC now owns 445 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 178 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of LPL Financial by 7.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,392 shares of the financial services provider’s stock valued at $574,000 after acquiring an additional 676 shares during the period. New York State Teachers Retirement System acquired a new position in shares of LPL Financial during the fourth quarter valued at $476,000. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of LPL Financial by 11.6% during the fourth quarter. Xact Kapitalforvaltning AB now owns 14,481 shares of the financial services provider’s stock valued at $884,000 after acquiring an additional 1,500 shares during the period. 93.82% of the stock is owned by institutional investors.

Shares of NASDAQ:LPLA traded down $0.76 during midday trading on Friday, reaching $83.88. The company had a trading volume of 543,300 shares, compared to its average volume of 749,255. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.60. The firm has a market cap of $7.07 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.80 and a beta of 1.42. LPL Financial has a one year low of $52.03 and a one year high of $86.09.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.33. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.35 billion. LPL Financial had a net margin of 9.42% and a return on equity of 53.97%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, equities research analysts forecast that LPL Financial will post 7.08 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 annualized dividend and a yield of 1.19%. LPL Financial’s payout ratio is 18.76%.

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 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.

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