LPL Financial Holdings Inc (LPLA) Rating Reiterated by SunTrust Banks, Inc.
LPL Financial Holdings Inc (NASDAQ:LPLA)‘s stock had its “hold” rating reaffirmed by stock analysts at SunTrust Banks, Inc. in a note issued to investors on Friday. They currently have a $42.00 price objective on the stock. SunTrust Banks, Inc.’s target price points to a potential upside of 2.36% from the company’s current price.
Several other research firms have also recently commented on LPLA. Zacks Investment Research cut shares of LPL Financial Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Goldman Sachs Group Inc raised shares of LPL Financial Holdings from a “sell” rating to a “neutral” rating and increased their price target for the company from $34.00 to $40.00 in a research note on Tuesday, January 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $33.66.
LPL Financial Holdings (NASDAQ:LPLA) opened at 41.03 on Friday. The firm’s 50-day moving average is $39.81 and its 200 day moving average is $35.68. The stock has a market capitalization of $3.66 billion, a PE ratio of 19.26 and a beta of 1.85. LPL Financial Holdings has a 52-week low of $20.51 and a 52-week high of $42.86.
LPL Financial Holdings (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, February 9th. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.10. LPL Financial Holdings had a net margin of 4.74% and a return on equity of 25.39%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. LPL Financial Holdings’s revenue was down 1.3% compared to the same quarter last year. On average, equities analysts forecast that LPL Financial Holdings will post $2.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $1.00 annualized dividend and a yield of 2.44%. LPL Financial Holdings’s dividend payout ratio is currently 46.95%.
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In related news, Director Mark S. Casady sold 365,213 shares of the stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $40.76, for a total value of $14,886,081.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Dan H. Arnold sold 15,428 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $39.14, for a total transaction of $603,851.92. Following the completion of the transaction, the chief executive officer now owns 230,112 shares in the company, valued at $9,006,583.68. The disclosure for this sale can be found here. Insiders sold 1,615,952 shares of company stock worth $65,039,461 over the last 90 days. 5.70% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of LPL Financial Holdings by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 315,780 shares of the company’s stock valued at $9,445,000 after buying an additional 14,499 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of LPL Financial Holdings by 5.5% in the third quarter. UBS Asset Management Americas Inc. now owns 73,171 shares of the company’s stock valued at $2,189,000 after buying an additional 3,843 shares in the last quarter. Aperio Group LLC acquired a new position in shares of LPL Financial Holdings during the third quarter valued at $236,000. First Trust Advisors LP raised its position in shares of LPL Financial Holdings by 413.6% in the third quarter. First Trust Advisors LP now owns 349,869 shares of the company’s stock valued at $10,465,000 after buying an additional 281,753 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of LPL Financial Holdings by 23.9% in the third quarter. Wells Fargo & Company MN now owns 270,109 shares of the company’s stock valued at $8,078,000 after buying an additional 52,077 shares in the last quarter.
LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors (RIAs) and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors (its advisors), including financial advisors at approximately 700 financial institutions across the country.
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