LPL Financial Holdings Inc (NASDAQ:LPLA) Given Average Recommendation of “Hold” by Brokerages

Shares of LPL Financial Holdings Inc (NASDAQ:LPLA) have been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $86.86.

A number of equities research analysts have recently weighed in on LPLA shares. Credit Suisse Group boosted their price target on LPL Financial from $108.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Citigroup dropped their price target on LPL Financial from $100.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday. ValuEngine upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Zacks Investment Research lowered LPL Financial from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Finally, BidaskClub upgraded LPL Financial from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th.

In related news, Director John Andrew Kalbaugh sold 32,120 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $80.28, for a total value of $2,578,593.60. Following the sale, the director now owns 24,096 shares in the company, valued at $1,934,426.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Matthew J. Audette sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $76.67, for a total value of $958,375.00. Following the completion of the sale, the chief financial officer now owns 30,943 shares in the company, valued at approximately $2,372,399.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,526 shares of company stock worth $9,234,790. 2.20% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hancock Whitney Corp purchased a new stake in LPL Financial in the second quarter valued at approximately $710,000. BlackRock Inc. boosted its position in LPL Financial by 3.0% in the second quarter. BlackRock Inc. now owns 4,144,447 shares of the financial services provider’s stock valued at $338,063,000 after buying an additional 120,006 shares during the last quarter. Natixis lifted its holdings in LPL Financial by 188.7% in the second quarter. Natixis now owns 83,279 shares of the financial services provider’s stock valued at $6,793,000 after acquiring an additional 54,430 shares during the period. Royal Bank of Canada lifted its holdings in LPL Financial by 21.9% in the second quarter. Royal Bank of Canada now owns 4,743 shares of the financial services provider’s stock valued at $387,000 after acquiring an additional 851 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in LPL Financial by 179.0% in the second quarter. Verition Fund Management LLC now owns 14,549 shares of the financial services provider’s stock valued at $1,187,000 after acquiring an additional 9,334 shares during the period. Hedge funds and other institutional investors own 93.96% of the company’s stock.

Shares of LPLA stock traded down $0.15 during trading hours on Friday, reaching $84.12. 595,726 shares of the company’s stock were exchanged, compared to its average volume of 504,065. LPL Financial has a 1 year low of $52.03 and a 1 year high of $89.89. The stock has a market cap of $6.94 billion, a PE ratio of 15.78, a PEG ratio of 0.79 and a beta of 1.37. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.55. The stock’s fifty day moving average price is $76.45 and its two-hundred day moving average price is $78.44.

LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. LPL Financial had a return on equity of 57.63% and a net margin of 9.77%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts expect that LPL Financial will post 7.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 1.19%. LPL Financial’s dividend payout ratio is currently 18.76%.

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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Analyst Recommendations for LPL Financial (NASDAQ:LPLA)

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