LPL Financial (NASDAQ:LPLA) Sets New 12-Month High Following Analyst Upgrade

LPL Financial Holdings Inc. (NASDAQ:LPLA) shares hit a new 52-week high during trading on Friday after Morgan Stanley raised their price target on the stock from $379.00 to $413.00. Morgan Stanley currently has an overweight rating on the stock. LPL Financial traded as high as $375.84 and last traded at $372.70, with a volume of 320649 shares traded. The stock had previously closed at $371.05.

A number of other brokerages have also recently commented on LPLA. Wells Fargo & Company upped their price target on LPL Financial from $390.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group increased their target price on LPL Financial from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Barclays increased their target price on LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. TD Cowen upgraded LPL Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $277.00 to $413.00 in a research report on Thursday, December 19th. Finally, JMP Securities reiterated a “market outperform” rating and set a $435.00 target price on shares of LPL Financial in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $379.17.

Insider Activity

In related news, CFO Matthew J. Audette sold 28,777 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $365.14, for a total transaction of $10,507,633.78. Following the completion of the sale, the chief financial officer now directly owns 13,663 shares of the company’s stock, valued at approximately $4,988,907.82. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aneri Jambusaria sold 305 shares of the firm’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 sale, the director now directly owns 3,920 shares of the company’s stock, valued at $1,301,204.80. This represents a 7.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in LPL Financial during the 3rd quarter worth $31,000. Paladin Wealth LLC purchased a new position in LPL Financial during the 3rd quarter worth $34,000. Brooklyn Investment Group purchased a new position in LPL Financial during the 3rd quarter worth $43,000. Jones Financial Companies Lllp increased its holdings in LPL Financial by 45.3% during the 4th quarter. Jones Financial Companies Lllp now owns 138 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 43 shares during the period. Finally, Compass Financial Services Inc purchased a new position in LPL Financial during the 4th quarter worth $65,000. 95.66% of the stock is owned by institutional investors.

LPL Financial Price Performance

The firm has a fifty day simple moving average of $338.85 and a 200 day simple moving average of $277.76. The company has a market capitalization of $27.64 billion, a PE ratio of 26.29, a P/E/G ratio of 1.13 and a beta of 0.87. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.16 and a current ratio of 2.16.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. LPL Financial had a return on equity of 49.41% and a net margin of 8.55%. Equities analysts anticipate that LPL Financial Holdings Inc. will post 19.4 EPS for the current year.

LPL Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Tuesday, March 11th. LPL Financial’s payout ratio is currently 8.55%.

LPL Financial Company Profile

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.