LPL Financial (NASDAQ:LPLA) Shares Down 1.9% – What’s Next?

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s stock price dropped 1.9% during trading on Thursday . The company traded as low as $374.83 and last traded at $376.07. Approximately 272,785 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 614,979 shares. The stock had previously closed at $383.33.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. TD Cowen raised LPL Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. UBS Group raised their target price on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $435.00 price target on shares of LPL Financial in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $379.17.

LPL Financial Stock Down 2.0 %

The firm has a market capitalization of $27.85 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 0.94 and a beta of 0.87. The business’s fifty day moving average price is $348.99 and its 200 day moving average price is $289.66. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 1.60.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. On average, equities analysts expect that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.

LPL Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.20 dividend on an annualized basis and a yield of 0.32%. LPL Financial’s payout ratio is 8.55%.

Insider Buying and Selling at LPL Financial

In other news, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the completion of the sale, the chief financial officer now owns 13,663 shares in the company, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now directly owns 3,920 shares in the company, valued at approximately $1,301,204.80. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of LPL Financial by 101.4% in the 3rd quarter. Blue Trust Inc. now owns 977 shares of the financial services provider’s stock valued at $227,000 after buying an additional 492 shares during the period. Sequoia Financial Advisors LLC raised its position in LPL Financial by 10.3% in the third quarter. Sequoia Financial Advisors LLC now owns 945 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 88 shares in the last quarter. Private Advisor Group LLC lifted its holdings in LPL Financial by 1.0% in the third quarter. Private Advisor Group LLC now owns 27,098 shares of the financial services provider’s stock valued at $6,304,000 after acquiring an additional 276 shares during the period. International Assets Investment Management LLC boosted its position in shares of LPL Financial by 11,516.9% during the 3rd quarter. International Assets Investment Management LLC now owns 92,819 shares of the financial services provider’s stock worth $21,592,000 after purchasing an additional 92,020 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its stake in shares of LPL Financial by 1.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 15,876 shares of the financial services provider’s stock worth $3,693,000 after purchasing an additional 303 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.

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 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.