LPL Financial Holdings Inc (NASDAQ:LPLA) Receives $92.45 Average Price Target from Analysts

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Shares of LPL Financial Holdings Inc (NASDAQ:LPLA) have earned an average rating of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $92.45.

LPLA has been the topic of several research reports. Credit Suisse Group cut their price target on LPL Financial from $110.00 to $98.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. Citigroup lifted their price objective on LPL Financial from $105.00 to $110.00 and gave the stock a “sell” rating in a research report on Friday, November 15th. Wolfe Research set a $110.00 price objective on LPL Financial and gave the stock a “buy” rating in a report on Friday, October 25th. ValuEngine downgraded shares of LPL Financial from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Morgan Stanley cut their target price on shares of LPL Financial from $90.00 to $84.00 and set an “equal weight” rating on the stock in a research report on Monday, October 14th.

Shares of LPLA traded up $1.49 during mid-day trading on Friday, hitting $91.96. 8,479 shares of the company traded hands, compared to its average volume of 546,945. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.56. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.86 and a beta of 1.43. The business has a 50-day moving average of $85.44 and a 200 day moving average of $81.62. LPL Financial has a one year low of $56.20 and a one year high of $92.99.

LPL Financial (NASDAQ:LPLA) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.10. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.42 billion. LPL Financial had a return on equity of 59.56% and a net margin of 10.07%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 EPS. As a group, analysts anticipate that LPL Financial will post 7.15 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.25 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. LPL Financial’s dividend payout ratio is currently 18.76%.

In related news, Director Tracy Calder sold 13,181 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $91.60, for a total value of $1,207,379.60. Following the sale, the director now directly owns 8,089 shares in the company, valued at approximately $740,952.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 48,159 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $80.00, for a total transaction of $3,852,720.00. Following the completion of the sale, the chief executive officer now owns 227,784 shares in the company, valued at $18,222,720. The disclosure for this sale can be found here. Insiders sold a total of 149,600 shares of company stock worth $12,483,871 over the last 90 days. 2.20% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of LPL Financial by 3.0% in the 2nd quarter. BlackRock Inc. now owns 4,144,447 shares of the financial services provider’s stock valued at $338,063,000 after buying an additional 120,006 shares during the period. Voya Investment Management LLC grew its stake in LPL Financial by 49.1% in the third quarter. Voya Investment Management LLC now owns 1,295,396 shares of the financial services provider’s stock valued at $106,094,000 after acquiring an additional 426,793 shares during the period. Nuveen Asset Management LLC grew its stake in LPL Financial by 241.2% in the second quarter. Nuveen Asset Management LLC now owns 1,186,741 shares of the financial services provider’s stock valued at $96,803,000 after acquiring an additional 838,919 shares during the period. Eagle Asset Management Inc. increased its holdings in shares of LPL Financial by 1.8% in the third quarter. Eagle Asset Management Inc. now owns 692,722 shares of the financial services provider’s stock worth $56,733,000 after acquiring an additional 12,176 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of LPL Financial by 4.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 615,252 shares of the financial services provider’s stock worth $50,187,000 after acquiring an additional 28,624 shares in the last quarter. 93.76% of the stock is owned by hedge funds and other 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 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.

Featured Article: Hold Rating

Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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