LPL Financial Holdings Inc. (NASDAQ:LPLA – Get Free Report)’s stock price fell 2.5% on Thursday after Barclays lowered their price target on the stock from $319.00 to $313.00. Barclays currently has an overweight rating on the stock. LPL Financial traded as low as $264.80 and last traded at $266.03. 30,721 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 520,452 shares. The stock had previously closed at $272.94.
A number of other equities analysts have also recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $305.00 price target on shares of LPL Financial in a research note on Wednesday, May 1st. Raymond James assumed coverage on shares of LPL Financial in a report on Thursday, April 4th. They set an “underperform” rating on the stock. Jefferies Financial Group boosted their target price on shares of LPL Financial from $322.00 to $334.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley upgraded shares of LPL Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $254.00 to $315.00 in a report on Tuesday, April 9th. Finally, TD Cowen increased their price target on shares of LPL Financial from $271.00 to $279.00 and gave the company a “hold” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, LPL Financial has an average rating of “Hold” and a consensus target price of $285.20.
Insider Transactions at LPL Financial
In other LPL Financial news, CEO Dan H. Arnold sold 5,677 shares of the business’s stock in a transaction dated 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 owns 142,608 shares of the company’s stock, valued at $39,546,624.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.
Institutional Trading of LPL Financial
Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in shares of LPL Financial in the fourth quarter worth $200,497,000. Boston Partners lifted its stake in LPL Financial by 71.9% in the 1st quarter. Boston Partners now owns 1,765,230 shares of the financial services provider’s stock worth $466,434,000 after purchasing an additional 738,509 shares in the last quarter. TD Asset Management Inc lifted its stake in LPL Financial by 286.0% in the 4th quarter. TD Asset Management Inc now owns 828,369 shares of the financial services provider’s stock worth $188,553,000 after purchasing an additional 613,792 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of LPL Financial by 89.0% during the 4th quarter. Epoch Investment Partners Inc. now owns 774,297 shares of the financial services provider’s stock valued at $176,245,000 after purchasing an additional 364,597 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC grew its position in shares of LPL Financial by 12,785.9% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 234,524 shares of the financial services provider’s stock valued at $53,382,000 after purchasing an additional 232,704 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors.
LPL Financial Stock Down 2.8 %
The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $19.81 billion, a P/E ratio of 20.03, a PEG ratio of 1.09 and a beta of 0.90. The company has a fifty day moving average price of $276.53 and a 200-day moving average price of $261.56.
LPL Financial (NASDAQ:LPLA – Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $4.21 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.44. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.68 billion. LPL Financial had a return on equity of 55.22% and a net margin of 9.71%. As a group, research analysts forecast that LPL Financial Holdings Inc. will post 15.85 EPS for the current fiscal year.
LPL Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, May 20th. LPL Financial’s payout ratio is 9.06%.
LPL Financial Company Profile
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.