LPL Financial (NASDAQ:LPLA) Shares Up 2.3%

LPL Financial Holdings Inc. (NASDAQ:LPLA) shot up 2.3% during trading on Monday . The company traded as high as $273.59 and last traded at $272.44. 152,216 shares were traded during trading, a decline of 71% from the average session volume of 523,225 shares. The stock had previously closed at $266.32.

Analyst Ratings Changes

Several analysts recently issued reports on LPLA shares. TD Cowen upped their price target on shares of LPL Financial from $266.00 to $269.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. UBS Group upped their price objective on shares of LPL Financial from $260.00 to $267.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Barclays upped their target price on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a report on Monday, April 8th. JMP Securities upped their target price on LPL Financial from $290.00 to $305.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Finally, Raymond James started coverage on LPL Financial in a report on Thursday, April 4th. They issued an “underperform” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, LPL Financial currently has an average rating of “Hold” and a consensus target price of $276.00.

LPL Financial Stock Up 2.2 %

The company has a debt-to-equity ratio of 1.80, a current ratio of 1.77 and a quick ratio of 1.77. The business has a fifty day moving average of $263.85 and a 200 day moving average of $241.92. The stock has a market cap of $20.34 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.29 and a beta of 0.84.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings results on Thursday, February 1st. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.33 by $0.18. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company posted $4.21 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities analysts predict that LPL Financial Holdings Inc. will post 15.55 earnings per share for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.20 annualized dividend and a yield of 0.44%. LPL Financial’s dividend payout ratio (DPR) is presently 8.79%.

Insider Buying and Selling at LPL Financial

In other news, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the sale, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Matthew Enyedi sold 1,381 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $256.94, for a total value of $354,834.14. Following the completion of the sale, the director now directly owns 8,634 shares of the company’s stock, valued at $2,218,419.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dan H. Arnold sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $256.35, for a total value of $2,563,500.00. Following the completion of the sale, the chief executive officer now directly owns 137,044 shares of the company’s stock, valued at $35,131,229.40. The disclosure for this sale can be found here. Insiders have sold a total of 60,151 shares of company stock worth $15,911,088 over the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. DGS Capital Management LLC raised its stake in LPL Financial by 2.8% during the first quarter. DGS Capital Management LLC now owns 1,625 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 44 shares in the last quarter. V Square Quantitative Management LLC increased its position in LPL Financial by 9.9% in the third quarter. V Square Quantitative Management LLC now owns 522 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 47 shares during the period. Oliver Luxxe Assets LLC increased its position in LPL Financial by 0.6% in the fourth quarter. Oliver Luxxe Assets LLC now owns 8,152 shares of the financial services provider’s stock worth $1,856,000 after purchasing an additional 48 shares during the period. Covestor Ltd increased its position in LPL Financial by 13.6% in the third quarter. Covestor Ltd now owns 417 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 50 shares during the period. Finally, First Horizon Advisors Inc. increased its position in LPL Financial by 12.5% in the third quarter. First Horizon Advisors Inc. now owns 496 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 55 shares during the period. 95.66% of the stock is owned by institutional investors.

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.