LPL Financial Holdings Inc (LPLA) Receives $54.00 Average PT from Brokerages
Shares of LPL Financial Holdings Inc (NASDAQ:LPLA) have been given an average recommendation of “Hold” by the thirteen analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $54.00.
A number of brokerages recently commented on LPLA. SunTrust Banks reissued a “buy” rating and issued a $65.00 target price on shares of LPL Financial in a research note on Friday, October 27th. Zacks Investment Research raised LPL Financial from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Thursday, October 26th. ValuEngine cut LPL Financial from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Morgan Stanley boosted their target price on LPL Financial from $39.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, October 5th. Finally, Credit Suisse Group assumed coverage on LPL Financial in a research note on Thursday, November 30th. They issued an “outperform” rating and a $68.00 target price for the company.
Shares of LPL Financial (NASDAQ:LPLA) traded up $0.51 on Monday, reaching $53.98. The company’s stock had a trading volume of 532,055 shares, compared to its average volume of 717,272. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.54. LPL Financial has a 52-week low of $34.01 and a 52-week high of $55.39. The company has a market cap of $4,861.25, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.80 and a beta of 1.88.
LPL Financial (NASDAQ:LPLA) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. LPL Financial had a return on equity of 26.03% and a net margin of 5.19%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. sell-side analysts forecast that LPL Financial will post 2.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Thursday, November 9th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Wednesday, November 8th. LPL Financial’s payout ratio is 42.55%.
LPL Financial announced that its Board of Directors has initiated a share buyback program on Tuesday, December 5th that authorizes the company to buyback $359.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, CEO Dan H. Arnold sold 3,742 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $48.54, for a total value of $181,636.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in LPLA. Janus Henderson Group PLC acquired a new stake in LPL Financial during the 2nd quarter worth about $399,202,000. Vanguard Group Inc. boosted its stake in LPL Financial by 10.4% during the 2nd quarter. Vanguard Group Inc. now owns 8,779,510 shares of the financial services provider’s stock valued at $372,778,000 after purchasing an additional 827,372 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of LPL Financial during the 3rd quarter worth approximately $31,835,000. Samlyn Capital LLC lifted its position in shares of LPL Financial by 55.6% during the 2nd quarter. Samlyn Capital LLC now owns 1,480,439 shares of the financial services provider’s stock worth $62,860,000 after buying an additional 528,780 shares in the last quarter. Finally, Zweig DiMenna Associates LLC bought a new position in shares of LPL Financial during the 3rd quarter worth approximately $20,250,000. 90.33% of the stock is owned by institutional investors and hedge funds.
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About LPL Financial
LPL Financial Holdings Inc is a broker-dealer, a custodian for registered investment advisors and an independent consultant to retirement plans. The Company provides a platform of brokerage and investment advisory services to independent financial advisors, including financial advisors at financial institutions across the country.
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