LPL Financial Holdings Inc. (NASDAQ:LPLA) Stock Has Consensus Price Target of $403.79 According to Brokerages

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) have been assigned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $411.69.

A number of equities research analysts have recently commented on the stock. Bank of America reduced their target price on shares of LPL Financial from $557.00 to $554.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. boosted their price target on LPL Financial from $428.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets reduced their price objective on LPL Financial from $390.00 to $370.00 and set an “outperform” rating for the company in a research note on Tuesday. Truist Financial began coverage on LPL Financial in a research report on Tuesday, September 1st. They set a “hold” rating and a $389.00 price objective for the company. Finally, TD Cowen lifted their target price on LPL Financial from $372.00 to $377.00 and gave the company a “hold” rating in a research note on Tuesday, September 1st.

LPL Financial Stock Performance

Shares of LPLA opened at $330.88 on Friday. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. The firm has a market cap of $26.05 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 0.56 and a beta of 0.53. The company’s 50 day simple moving average is $345.91 and its 200-day simple moving average is $319.12. LPL Financial has a 12-month low of $260.15 and a 12-month high of $400.16.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, beating the consensus estimate of $5.39 by $0.45. The firm had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.04 billion. LPL Financial had a net margin of 5.13% and a return on equity of 32.20%. LPL Financial’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.51 EPS. As a group, equities analysts predict that LPL Financial will post 24.14 EPS for the current year.

LPL Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.4%. LPL Financial’s dividend payout ratio (DPR) is currently 9.57%.

Insider Activity

In other LPL Financial news, Director Greg Gates sold 4,119 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $355.38, for a total transaction of $1,463,810.22. Following the completion of the transaction, the director owned 23,602 shares in the company, valued at approximately $8,387,678.76. This represents a 14.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katharine Reeping sold 440 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $347.88, for a total transaction of $153,067.20. Following the completion of the sale, the insider owned 1,774 shares of the company’s stock, valued at $617,139.12. This trade represents a 19.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 5,867 shares of company stock valued at $2,079,664. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LPLA. Valley Wealth Managers Inc. raised its stake in shares of LPL Financial by 5.7% during the 3rd quarter. Valley Wealth Managers Inc. now owns 2,465 shares of the financial services provider’s stock worth $754,000 after buying an additional 132 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of LPL Financial by 49.3% in the third quarter. Wedmont Private Capital now owns 2,320 shares of the financial services provider’s stock valued at $761,000 after buying an additional 766 shares in the last quarter. WoodTrust Financial Corp purchased a new stake in shares of LPL Financial in the third quarter valued at approximately $215,000. Legacy Wealth Asset Management LLC grew its holdings in LPL Financial by 40.7% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,390 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 402 shares during the period. Finally, CX Institutional grew its holdings in LPL Financial by 268.9% during the third quarter. CX Institutional now owns 225 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 164 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.

About LPL Financial

LPL Financial Holdings Inc is a financial services company that provides brokerage and investment advisory services through a network of independent financial advisors. Operating primarily in the United States, the company supports advisors who serve individuals, families, businesses and retirement plan participants.

LPL Financial’s platform offers access to investment products and services, including equities, bonds, mutual funds, exchange-traded funds, insurance products, annuities and alternative investments.