Key Points
- Insider sale: Katharine Reeping sold 440 LPL Financial shares for $153,067.20, reducing her direct ownership by 19.87% to 1,774 shares.
- Strong quarterly results: LPL reported $5.84 in quarterly EPS, beating estimates by $0.45, while revenue rose 35.2% year over year to $5.19 billion.
- Positive analyst sentiment: Twelve analysts rate the stock Buy and five rate it Hold, producing a “Moderate Buy” consensus and an average price target of $405.79 versus a recent price near $345.66.
LPL Financial Holdings Inc. (NASDAQ:LPLA - Get Free Report) insider Katharine Reeping sold 440 shares of the stock in a transaction that occurred 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 directly owned 1,774 shares of the company's stock, valued at $617,139.12. This represents a 19.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
LPL Financial Stock Performance
NASDAQ:LPLA opened at $345.66 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.30. LPL Financial Holdings Inc. has a 12-month low of $260.15 and a 12-month high of $400.16. The stock has a 50-day moving average price of $348.09 and a 200 day moving average price of $316.76. The stock has a market capitalization of $27.22 billion, a P/E ratio of 27.56, a P/E/G ratio of 0.60 and a beta of 0.48.
LPL Financial (NASDAQ:LPLA - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.84 EPS for the quarter, topping analysts' consensus estimates of $5.39 by $0.45. LPL Financial had a return on equity of 32.20% and a net margin of 5.13%.The company had revenue of $5.19 billion for the quarter, compared to analysts' expectations of $5.04 billion. During the same period in the previous year, the firm earned $4.51 EPS. The firm's revenue was up 35.2% compared to the same quarter last year. Equities research analysts forecast that LPL Financial Holdings Inc. will post 24.06 EPS for the current fiscal year.
LPL Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.3%. LPL Financial's dividend payout ratio (DPR) is 9.57%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on LPLA shares. Wolfe Research reaffirmed an "outperform" rating and set a $454.00 price target on shares of LPL Financial in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods lifted their price objective on shares of LPL Financial from $365.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. William Blair restated an "outperform" rating on shares of LPL Financial in a report on Thursday, June 4th. UBS Group dropped their price target on LPL Financial from $395.00 to $391.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. Finally, Barclays boosted their price objective on LPL Financial from $394.00 to $401.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Twelve investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $405.79.
View Our Latest Research Report on LPLA
Institutional Investors Weigh In On LPL Financial
Several hedge funds and other institutional investors have recently made changes to their positions in LPLA. Clearstead Advisors LLC boosted its position in LPL Financial by 3,650.0% in the 4th quarter. Clearstead Advisors LLC now owns 75 shares of the financial services provider's stock valued at $27,000 after buying an additional 73 shares during the period. Core Wealth Advisors LLC purchased a new position in shares of LPL Financial during the fourth quarter worth approximately $36,000. Physician Wealth Advisors Inc. increased its position in shares of LPL Financial by 580.0% during the first quarter. Physician Wealth Advisors Inc. now owns 136 shares of the financial services provider's stock worth $41,000 after acquiring an additional 116 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of LPL Financial during the fourth quarter valued at approximately $50,000. Finally, Reflection Asset Management bought a new stake in shares of LPL Financial during the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 95.66% of the company's stock.
LPL Financial Company Profile
(
Get Free Report)
LPL Financial Holdings Inc (NASDAQ:LPLA) is the parent company of LPL Financial LLC, an independent broker-dealer and registered investment adviser that provides services and support to financial advisors. Rather than operating primarily through a proprietary branch network, LPL enables independent financial professionals, registered investment advisers, and advisors affiliated with banks and credit unions to operate their own practices while accessing investment products, technology, and business resources.
The company's platform supports brokerage and fee-based advisory services, retirement plan services, insurance and annuity products, alternative investments, cash management, research, compliance, and practice management.
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