LPL Financial (NASDAQ:LPLA) Trading Up 2.4% – What’s Next?

LPL Financial Holdings Inc. (NASDAQ:LPLA)’s share price shot up 2.4% during trading on Wednesday . The company traded as high as $369.59 and last traded at $366.05. 204,669 shares traded hands during trading, a decline of 70% from the average session volume of 692,929 shares. The stock had previously closed at $357.36.

Analysts Set New Price Targets

LPLA has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of LPL Financial from $379.00 to $413.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Citigroup increased their price objective on LPL Financial from $310.00 to $385.00 and gave the company a “buy” rating in a report on Friday, January 10th. JPMorgan Chase & Co. raised their price target on shares of LPL Financial from $397.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. JMP Securities reiterated a “market outperform” rating and issued a $435.00 target price on shares of LPL Financial in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on LPL Financial from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. One investment 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, LPL Financial has a consensus rating of “Moderate Buy” and a consensus target price of $379.17.

LPL Financial Trading Up 1.6 %

The firm has a market capitalization of $27.20 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 0.94 and a beta of 0.87. 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’s 50 day moving average is $350.44 and its 200 day moving average is $293.38.

LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Equities analysts forecast that LPL Financial Holdings Inc. will post 19.35 earnings per share for the current year.

LPL Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be paid a $0.30 dividend. 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 dividend payout ratio is currently 8.55%.

Insider Buying and Selling

In other news, CFO Matthew J. Audette sold 28,777 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer now owns 13,663 shares of the company’s stock, valued at $4,988,907.82. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aneri Jambusaria sold 305 shares of the 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 transaction, the director now owns 3,920 shares of the company’s stock, valued at $1,301,204.80. The trade was a 7.22 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Trading of LPL Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. Anchor Investment Management LLC boosted its holdings in shares of LPL Financial by 0.3% during the 4th quarter. Anchor Investment Management LLC now owns 9,697 shares of the financial services provider’s stock valued at $3,166,000 after acquiring an additional 28 shares in the last quarter. Colonial Trust Co SC grew its holdings in LPL Financial by 6.1% during the 4th quarter. Colonial Trust Co SC now owns 505 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 29 shares during the last quarter. Wealth Alliance increased its position in LPL Financial by 2.1% in the 4th quarter. Wealth Alliance now owns 1,483 shares of the financial services provider’s stock valued at $484,000 after acquiring an additional 30 shares during the period. United Capital Financial Advisors LLC raised its stake in shares of LPL Financial by 2.6% during the fourth quarter. United Capital Financial Advisors LLC now owns 1,203 shares of the financial services provider’s stock valued at $393,000 after acquiring an additional 31 shares during the last quarter. Finally, Sanchez Wealth Management Group lifted its holdings in shares of LPL Financial by 2.1% during the fourth quarter. Sanchez Wealth Management Group now owns 1,686 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 35 shares during the period. Institutional investors own 95.66% of the company’s stock.

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.