LPL Financial Holdings Inc (NASDAQ:LPLA) has earned an average recommendation of “Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $80.56.
A number of research firms have weighed in on LPLA. BidaskClub cut LPL Financial from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research raised LPL Financial from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Wednesday, February 13th. Compass Point began coverage on LPL Financial in a research report on Monday, March 11th. They set a “buy” rating and a $82.00 price objective for the company. ValuEngine raised LPL Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Finally, Morgan Stanley set a $70.00 price objective on LPL Financial and gave the stock a “hold” rating in a research report on Friday, February 8th.
LPL Financial stock opened at $68.16 on Friday. LPL Financial has a twelve month low of $52.03 and a twelve month high of $79.34. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 2.44. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 0.70 and a beta of 1.64.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.47%. LPL Financial’s dividend payout ratio is currently 18.76%.
In other news, insider George Burton White sold 23,892 shares of the firm’s stock in a transaction that occurred on Thursday, January 10th. The stock was sold at an average price of $66.00, for a total value of $1,576,872.00. Following the completion of the sale, the insider now directly owns 50,581 shares of the company’s stock, valued at approximately $3,338,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Gooley sold 43,440 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $74.83, for a total value of $3,250,615.20. Following the completion of the sale, the insider now directly owns 41,868 shares of the company’s stock, valued at $3,132,982.44. The disclosure for this sale can be found here. Insiders sold a total of 189,418 shares of company stock valued at $13,893,460 over the last three months. Insiders own 2.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of LPLA. Comerica Bank lifted its holdings in shares of LPL Financial by 466.3% in the 3rd quarter. Comerica Bank now owns 22,277 shares of the financial services provider’s stock valued at $1,242,000 after buying an additional 18,343 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of LPL Financial in the 3rd quarter valued at approximately $533,000. SG Americas Securities LLC acquired a new stake in shares of LPL Financial in the 3rd quarter valued at approximately $1,057,000. Prudential Financial Inc. lifted its holdings in shares of LPL Financial by 232.5% in the 3rd quarter. Prudential Financial Inc. now owns 17,434 shares of the financial services provider’s stock valued at $1,125,000 after buying an additional 12,190 shares during the period. Finally, Commonwealth Bank of Australia acquired a new stake in shares of LPL Financial in the 3rd quarter valued at approximately $496,000. 92.38% of the stock is owned by institutional investors and hedge funds.
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 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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