Key Points
- Director Marc Eliot Cohen sold shares: He sold 2,212 shares on March 9 at an average $308.75 and 1,088 shares on March 10 at $309.72, cutting his stake by 28.73% to 5,488 shares and raising roughly $1.02 million in proceeds.
- LPL reported a Q4 beat and declared a dividend: The company posted Q4 EPS of $5.23 (vs. $4.82 expected) and revenue of $4.93B (vs. $4.90B), and announced a $0.30 quarterly dividend ($1.20 annual, ~0.4% yield) while analysts’ average target is $428.71 ("Moderate Buy").
LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) Director Marc Eliot Cohen sold 1,088 shares of LPL Financial stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $309.72, for a total value of $336,975.36. Following the sale, the director directly owned 4,400 shares in the company, valued at $1,362,768. This trade represents a 19.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Marc Eliot Cohen also recently made the following trade(s):
- On Monday, March 9th, Marc Eliot Cohen sold 2,212 shares of LPL Financial stock. The stock was sold at an average price of $308.75, for a total value of $682,955.00.
LPL Financial Price Performance
LPLA traded down $2.82 during trading on Thursday, reaching $300.14. 56,344 shares of the company traded hands, compared to its average volume of 946,284. The company has a market cap of $24.04 billion, a P/E ratio of 27.31, a PEG ratio of 0.68 and a beta of 0.59. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.45 and a current ratio of 2.45. LPL Financial Holdings Inc. has a 12-month low of $262.83 and a 12-month high of $403.58. The firm has a fifty day simple moving average of $348.24 and a 200 day simple moving average of $350.63.
LPL Financial (NASDAQ:LPLA - Get Free Report) last released its earnings results on Thursday, January 29th. The financial services provider reported $5.23 EPS for the quarter, topping the consensus estimate of $4.82 by $0.41. LPL Financial had a net margin of 5.08% and a return on equity of 34.19%. The firm had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the firm earned $4.25 earnings per share. The company's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 EPS for the current year.
LPL Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, March 10th. LPL Financial's dividend payout ratio (DPR) is currently 10.90%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Jefferies Financial Group increased their target price on LPL Financial from $426.00 to $440.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Barclays decreased their price target on shares of LPL Financial from $444.00 to $434.00 and set an "overweight" rating on the stock in a research note on Friday, January 30th. UBS Group set a $500.00 price objective on shares of LPL Financial in a research report on Tuesday, February 3rd. Citigroup reissued a "market outperform" rating on shares of LPL Financial in a research note on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of LPL Financial from $433.00 to $439.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, LPL Financial has a consensus rating of "Moderate Buy" and an average price target of $428.71.
Get Our Latest Stock Report on LPL Financial
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Osterweis Capital Management Inc. purchased a new stake in LPL Financial in the 2nd quarter valued at about $26,000. SJS Investment Consulting Inc. increased its position in shares of LPL Financial by 912.5% during the third quarter. SJS Investment Consulting Inc. now owns 81 shares of the financial services provider's stock worth $27,000 after acquiring an additional 73 shares during the period. Chung Wu Investment Group LLC bought a new stake in shares of LPL Financial during the third quarter valued at approximately $27,000. Clearstead Advisors LLC raised its stake in shares of LPL Financial by 3,650.0% during the fourth quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 73 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. boosted its holdings in shares of LPL Financial by 550.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 78 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 95.66% of the company's stock.
LPL Financial Company Profile
(
Get Free Report)
LPL Financial (NASDAQ: LPLA) is a U.S.-focused financial services firm that provides brokerage, custodial and advisory platforms to independent financial advisors, registered investment advisers and institutions. Operating primarily as an independent broker-dealer and custodian, the company supports a network of advisors with the operational, compliance and clearing infrastructure needed to manage client accounts and deliver investment advice outside of traditional wirehouse models.
The firm's product and service offerings include trade execution and clearing, custody services, retirement plan services, model portfolio and advisory platforms, wealth management technology, investment research and product access across equities, fixed income, mutual funds, exchange-traded funds and insurance and annuity solutions.
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