LPL Financial (NASDAQ:LPLA) Hits New 1-Year High – What’s Next?

Shares of LPL Financial Holdings Inc. (NASDAQ:LPLA) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $383.61 and last traded at $379.46, with a volume of 1348463 shares trading hands. The stock had previously closed at $383.33.

Analyst Ratings Changes

Several analysts recently weighed in on LPLA shares. Citigroup boosted their price objective on shares of LPL Financial from $310.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Barclays upped their price target on LPL Financial from $389.00 to $414.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. StockNews.com upgraded LPL Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Morgan Stanley increased their target price on shares of LPL Financial from $379.00 to $413.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $379.17.

LPL Financial Stock Down 2.0 %

The stock has a 50-day simple moving average of $348.99 and a two-hundred day simple moving average of $290.33. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.60. The firm has a market cap of $27.85 billion, a PE ratio of 26.49, a P/E/G ratio of 0.94 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, topping 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%. Analysts expect that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.32%. LPL Financial’s payout ratio is currently 8.55%.

Insider Activity

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

Hedge Funds Weigh In On LPL Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Graney & King LLC purchased a new stake in LPL Financial during the 4th quarter valued at $30,000. Ashton Thomas Securities LLC bought a new position in shares of LPL Financial during the third quarter valued at $31,000. Fourth Dimension Wealth LLC purchased a new stake in shares of LPL Financial during the fourth quarter valued at $40,000. Itau Unibanco Holding S.A. bought a new stake in LPL Financial in the 4th quarter worth about $42,000. Finally, Brooklyn Investment Group purchased a new position in LPL Financial in the 3rd quarter worth about $43,000. 95.66% of the stock is currently owned by institutional investors.

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.