Key Points
- Director Aneri Jambusaria sold 308 shares of LPL Financial at an average price of $306.00, totaling $94,248. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- LPL Financial recently beat earnings expectations, reporting $5.60 EPS versus the $5.49 consensus estimate, while revenue rose 34.6% year over year to $4.94 billion.
- Analyst sentiment remains positive overall, with the stock carrying a “Moderate Buy” rating and an average price target of $398.86, despite some firms maintaining hold ratings.
LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) Director Aneri Jambusaria sold 308 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $306.00, for a total transaction of $94,248.00. Following the completion of the transaction, the director owned 6,415 shares in the company, valued at $1,962,990. This represents a 4.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
LPL Financial Stock Performance
NASDAQ:LPLA opened at $297.62 on Tuesday. The firm has a 50-day moving average of $301.50 and a two-hundred day moving average of $327.23. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56. The stock has a market cap of $23.80 billion, a P/E ratio of 26.57, a PEG ratio of 0.61 and a beta of 0.50. LPL Financial Holdings Inc. has a 1-year low of $260.15 and a 1-year high of $403.58.
LPL Financial (NASDAQ:LPLA - Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $5.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.49 by $0.11. LPL Financial had a return on equity of 31.26% and a net margin of 4.93%.The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.98 billion. During the same period in the previous year, the company earned $5.15 earnings per share. The company's revenue for the quarter was up 34.6% compared to the same quarter last year. On average, research analysts expect that LPL Financial Holdings Inc. will post 22.98 earnings per share for the current fiscal year.
LPL Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, May 21st. This represents a $1.20 annualized dividend and a yield of 0.4%. LPL Financial's payout ratio is currently 10.71%.
Analyst Ratings Changes
Several equities analysts have recently commented on LPLA shares. TD Cowen reduced their target price on LPL Financial from $330.00 to $326.00 and set a "hold" rating for the company in a research note on Friday, May 1st. Weiss Ratings restated a "hold (c)" rating on shares of LPL Financial in a research note on Monday, April 27th. Keefe, Bruyette & Woods began coverage on shares of LPL Financial in a report on Wednesday, April 8th. They issued an "outperform" rating and a $350.00 price target on the stock. Citizens Jmp reiterated a "market outperform" rating and set a $500.00 price objective on shares of LPL Financial in a research note on Monday, April 6th. Finally, UBS Group raised their price objective on shares of LPL Financial from $380.00 to $395.00 and gave the stock a "buy" rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, LPL Financial presently has an average rating of "Moderate Buy" and an average price target of $398.86.
Get Our Latest Analysis on LPLA
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors grew its position in shares of LPL Financial by 15,960.1% during the 3rd quarter. Capital World Investors now owns 2,628,551 shares of the financial services provider's stock valued at $874,493,000 after buying an additional 2,612,184 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of LPL Financial during the fourth quarter valued at approximately $450,493,000. M&T Bank Corp raised its position in shares of LPL Financial by 27,955.5% during the 4th quarter. M&T Bank Corp now owns 1,141,019 shares of the financial services provider's stock worth $407,538,000 after purchasing an additional 1,136,952 shares during the period. Norges Bank bought a new stake in shares of LPL Financial in the 4th quarter worth approximately $371,616,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of LPL Financial by 36.3% in the 1st quarter. Principal Financial Group Inc. now owns 2,636,544 shares of the financial services provider's stock worth $793,163,000 after purchasing an additional 702,061 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.
About LPL Financial
(
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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