LPL Financial (NASDAQ:LPLA) Hits New 12-Month High – Time to Buy?

LPL Financial Holdings Inc. (NASDAQ:LPLA) reached a new 52-week high during trading on Wednesday . The company traded as high as $361.70 and last traded at $361.41, with a volume of 97777 shares trading hands. The stock had previously closed at $358.18.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LPLA. Keefe, Bruyette & Woods raised their price objective on LPL Financial from $390.00 to $405.00 and gave the company an “outperform” rating in a research note on Friday. JMP Securities restated a “market outperform” rating and set a $435.00 price target on shares of LPL Financial in a report on Friday. Jefferies Financial Group decreased their price objective on shares of LPL Financial from $309.00 to $282.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Barclays lifted their target price on shares of LPL Financial from $389.00 to $414.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their target price on LPL Financial from $397.00 to $405.00 and gave the company an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, LPL Financial has an average rating of “Moderate Buy” and an average price target of $370.50.

LPL Financial Price Performance

The business’s 50-day simple moving average is $334.85 and its two-hundred day simple moving average is $273.11. 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 stock has a market cap of $27.47 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 1.11 and a beta of 0.87.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. LPL Financial had a net margin of 8.73% and a return on equity of 49.47%. Sell-side analysts expect that LPL Financial Holdings Inc. will post 16.17 EPS for the current year.

LPL Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Tuesday, March 11th. LPL Financial’s payout ratio is 9.02%.

Insider Activity

In related news, Director Aneri Jambusaria sold 305 shares of LPL Financial stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $331.94, for a total transaction of $101,241.70. Following the completion of the sale, the director now owns 3,920 shares of the company’s stock, valued at approximately $1,301,204.80. This trade represents a 7.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Trading of LPL Financial

Several institutional investors and hedge funds have recently modified their holdings of LPLA. Ashton Thomas Securities LLC purchased a new position in shares of LPL Financial during the third quarter worth about $31,000. Paladin Wealth LLC bought a new stake in LPL Financial during the third quarter valued at approximately $34,000. Brooklyn Investment Group purchased a new position in LPL Financial in the 3rd quarter worth approximately $43,000. Compass Financial Services Inc purchased a new position in LPL Financial in the 4th quarter worth approximately $65,000. Finally, R Squared Ltd bought a new position in shares of LPL Financial in the 4th quarter worth $78,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.

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.