LPL Financial (NASDAQ:LPLA) Downgraded by BidaskClub
Several other research firms have also commented on LPLA. Citigroup raised their target price on shares of LPL Financial from $95.00 to $102.00 and gave the company an underweight rating in a report on Thursday, May 23rd. Compass Point lowered shares of LPL Financial from a buy rating to a neutral rating and set a $84.13 target price on the stock. in a report on Wednesday, May 8th. Zacks Investment Research raised shares of LPL Financial from a hold rating to a buy rating and set a $94.00 target price on the stock in a report on Wednesday, May 8th. Finally, Goldman Sachs Group lowered shares of LPL Financial from a conviction-buy rating to a buy rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $84.16.
LPLA stock opened at $77.18 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.60. LPL Financial has a 12 month low of $52.03 and a 12 month high of $86.09. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 0.76 and a beta of 1.41. The firm has a 50-day moving average price of $82.78.
The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, May 17th. LPL Financial’s dividend payout ratio (DPR) is presently 18.76%.
In related news, insider Michelle Oroschakoff sold 6,000 shares of LPL Financial stock in a transaction that occurred 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 sale, the insider now directly owns 15,563 shares of the company’s stock, valued at approximately $1,315,229.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dan H. Arnold sold 1,222 shares of LPL Financial stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 230,068 shares in the company, valued at $19,555,780. The disclosure for this sale can be found here. Insiders have sold a total of 7,722 shares of company stock worth $653,055 over the last ninety days. 2.20% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Advisors Preferred LLC bought a new stake in shares of LPL Financial during the 1st quarter valued at approximately $26,000. Sandy Spring Bank bought a new stake in LPL Financial during the 1st quarter worth approximately $34,000. Advisory Services Network LLC grew its holdings in LPL Financial by 131.8% during the 1st quarter. Advisory Services Network LLC now owns 605 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 344 shares during the last quarter. SG Americas Securities LLC bought a new stake in LPL Financial during the 1st quarter worth approximately $105,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in LPL Financial during the 1st quarter worth approximately $118,000. 93.75% of the stock is currently owned by 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.
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