LPL Financial Holdings Inc. (LPLA) Given Average Rating of “Buy” by Brokerages
Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have been given an average recommendation of “Buy” by the twelve analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, six 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 issued ratings on the stock in the last year is $48.20.
LPLA has been the topic of several recent analyst reports. Zacks Investment Research raised LPL Financial Holdings from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, July 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $48.00 target price on shares of LPL Financial Holdings in a research note on Tuesday, June 6th. Citigroup Inc. lifted their target price on LPL Financial Holdings from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Nomura raised LPL Financial Holdings from a “neutral” rating to a “buy” rating and lifted their target price for the company from $46.00 to $51.00 in a research note on Friday, April 28th. Finally, Instinet raised LPL Financial Holdings from a “neutral” rating to a “buy” rating and lifted their target price for the company from $46.00 to $51.00 in a research note on Friday, April 28th.
In other news, insider William P. Jr. Morrissey sold 32,150 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $39.34, for a total value of $1,264,781.00. Following the sale, the insider now owns 49,691 shares of the company’s stock, valued at approximately $1,954,843.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of LPLA. 361 Capital LLC increased its stake in LPL Financial Holdings by 322.0% in the second quarter. 361 Capital LLC now owns 93,104 shares of the financial services provider’s stock worth $3,953,000 after buying an additional 71,040 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of LPL Financial Holdings by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 2,794 shares of the financial services provider’s stock worth $119,000 after buying an additional 211 shares during the period. State Street Corp raised its stake in shares of LPL Financial Holdings by 2.7% in the second quarter. State Street Corp now owns 1,251,932 shares of the financial services provider’s stock worth $53,161,000 after buying an additional 32,320 shares during the period. Wildcat Capital Management LLC raised its stake in shares of LPL Financial Holdings by 0.8% in the second quarter. Wildcat Capital Management LLC now owns 208,401 shares of the financial services provider’s stock worth $8,801,000 after buying an additional 1,754 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in shares of LPL Financial Holdings during the second quarter worth about $399,202,000. 90.76% of the stock is currently owned by institutional investors.
LPL Financial Holdings (NASDAQ LPLA) traded up 0.90% during trading on Friday, reaching $46.22. 438,677 shares of the company’s stock were exchanged. LPL Financial Holdings has a 52 week low of $28.38 and a 52 week high of $48.56. The stock has a 50-day moving average of $45.12 and a 200-day moving average of $41.59. The stock has a market capitalization of $4.16 billion, a PE ratio of 20.08 and a beta of 1.84.
LPL Financial Holdings (NASDAQ:LPLA) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.08. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. LPL Financial Holdings had a return on equity of 26.45% and a net margin of 5.10%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. On average, equities research analysts anticipate that LPL Financial Holdings will post $2.42 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Tuesday, August 8th. LPL Financial Holdings’s dividend payout ratio is presently 43.48%.
LPL Financial Holdings Company Profile
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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