LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report)'s share price traded up 7.6% during trading on Wednesday . The company traded as high as $218.56 and last traded at $214.41. 74,910 shares were traded during trading, a decline of 89% from the average session volume of 702,792 shares. The stock had previously closed at $199.34.
Analyst Ratings Changes
Several analysts have recently issued reports on LPLA shares. Jefferies Financial Group upped their price objective on LPL Financial from $322.00 to $334.00 and gave the stock a "buy" rating in a report on Monday, July 8th. JMP Securities increased their price objective 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. UBS Group reduced their target price on shares of LPL Financial from $290.00 to $215.00 and set a "neutral" rating on the stock in a report on Tuesday, August 6th. Barclays decreased their target price on shares of LPL Financial from $313.00 to $273.00 and set an "overweight" rating on the stock in a research report on Friday, July 26th. Finally, TD Cowen boosted their price objective on LPL Financial from $243.00 to $255.00 and gave the stock a "hold" rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $279.30.
Check Out Our Latest Analysis on LPL Financial
LPL Financial Trading Up 8.6 %
The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.84 and a current ratio of 2.16. The stock has a fifty day moving average of $250.30 and a 200-day moving average of $259.22. The company has a market cap of $16.18 billion, a PE ratio of 16.36, a PEG ratio of 1.23 and a beta of 0.90.
LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $3.88 EPS for the quarter, topping analysts' consensus estimates of $3.66 by $0.22. LPL Financial had a net margin of 8.91% and a return on equity of 52.14%. The firm had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.89 billion. During the same period in the prior year, the business posted $3.94 earnings per share. The business's revenue for the quarter was up 18.8% on a year-over-year basis. Sell-side analysts anticipate that LPL Financial Holdings Inc. will post 15.9 EPS for the current fiscal year.
LPL Financial Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Friday, August 9th. LPL Financial's dividend payout ratio is presently 9.06%.
Insider Activity at LPL Financial
In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of LPL Financial stock in a transaction on Friday, June 14th. The stock was sold at an average price of $277.31, for a total transaction 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 approximately $39,546,624.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by company insiders.
Institutional Investors Weigh In On LPL Financial
Hedge funds have recently modified their holdings of the business. Intech Investment Management LLC boosted its position in LPL Financial by 38.8% during the 1st quarter. Intech Investment Management LLC now owns 41,850 shares of the financial services provider's stock valued at $11,057,000 after acquiring an additional 11,703 shares in the last quarter. Mawer Investment Management Ltd. bought a new position in LPL Financial in the fourth quarter worth about $3,375,000. Acadian Asset Management LLC raised its holdings in LPL Financial by 533.8% in the first quarter. Acadian Asset Management LLC now owns 5,153 shares of the financial services provider's stock worth $1,359,000 after purchasing an additional 4,340 shares in the last quarter. Swedbank AB purchased a new stake in shares of LPL Financial during the first quarter valued at about $3,648,000. Finally, Sei Investments Co. boosted its holdings in shares of LPL Financial by 23.4% in the 1st quarter. Sei Investments Co. now owns 113,254 shares of the financial services provider's stock valued at $29,923,000 after buying an additional 21,481 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company's stock.
LPL Financial Company Profile
(Get Free Report)
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.
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