LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) Director Matthew Enyedi sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $352.72, for a total value of $352,720.00. Following the completion of the sale, the director directly owned 13,121 shares of the company's stock, valued at approximately $4,628,039.12. The trade was a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
LPL Financial Price Performance
NASDAQ:LPLA opened at $354.24 on Wednesday. The company has a market cap of $28.33 billion, a P/E ratio of 28.25, a P/E/G ratio of 0.69 and a beta of 0.48. The firm's fifty day moving average price is $304.69 and its two-hundred day moving average price is $315.77. LPL Financial Holdings Inc. has a one year low of $260.15 and a one year high of $400.16. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.56 and a quick ratio of 2.56.
LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its 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. LPL Financial had a return on equity of 32.80% and a net margin of 5.13%.The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the prior year, the business earned $4.51 earnings per share. The firm's revenue for the quarter was up 35.2% on a year-over-year basis. Equities analysts expect that LPL Financial Holdings Inc. will post 23.69 earnings per share for the current year.
LPL Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 14th. LPL Financial's dividend payout ratio (DPR) is currently 9.57%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on LPLA shares. BMO Capital Markets lifted their price target on shares of LPL Financial from $300.00 to $390.00 and gave the company an "outperform" rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on shares of LPL Financial from $408.00 to $428.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Keefe, Bruyette & Woods raised their target price on shares of LPL Financial from $365.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of LPL Financial in a research note on Friday, July 24th. Finally, Morgan Stanley upped their price target on shares of LPL Financial from $374.00 to $387.00 and gave the stock an "overweight" rating in a report on Friday, July 10th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $408.54.
View Our Latest Stock Report on LPLA
Institutional Investors Weigh In On LPL Financial
Several large investors have recently modified their holdings of LPLA. Goldstein Advisors LLC boosted its position in LPL Financial by 4.8% during the fourth quarter. Goldstein Advisors LLC now owns 634 shares of the financial services provider's stock valued at $226,000 after acquiring an additional 29 shares during the last quarter. Coastal Bridge Advisors LLC boosted its position in shares of LPL Financial by 0.6% during the 4th quarter. Coastal Bridge Advisors LLC now owns 5,475 shares of the financial services provider's stock valued at $1,956,000 after purchasing an additional 31 shares in the last quarter. Natural Investments LLC grew its stake in LPL Financial by 4.8% during the fourth quarter. Natural Investments LLC now owns 727 shares of the financial services provider's stock worth $259,000 after purchasing an additional 33 shares during the period. Root Financial Partners LLC increased its holdings in LPL Financial by 1.4% in the fourth quarter. Root Financial Partners LLC now owns 2,318 shares of the financial services provider's stock worth $828,000 after purchasing an additional 33 shares in the last quarter. Finally, Lifestyle Asset Management Inc. boosted its holdings in shares of LPL Financial by 2.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 1,191 shares of the financial services provider's stock worth $425,000 after buying an additional 34 shares in the last quarter. 95.66% of the stock is currently owned by institutional investors and hedge funds.
About LPL Financial
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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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