Media stories about LPL Financial (NASDAQ:LPLA) have been trending somewhat positive on Thursday, according to Accern Sentiment. The research group ranks the sentiment of news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. LPL Financial earned a news impact score of 0.16 on Accern’s scale. Accern also gave media coverage about the financial services provider an impact score of 47.9752621143738 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern Sentiment’s analysis:
- Stock Buyback Plan Initiated by LPL Financial (LPLA) Board of Directors (americanbankingnews.com)
- Zacks: Brokerages Expect LPL Financial Holdings Inc (LPLA) Will Announce Quarterly Sales of $1.12 Billion (americanbankingnews.com)
- LPL Financial Holdings Inc. (LPLA) (seekingalpha.com)
- BRIEF-LPL Financial Holdings Says Board Authorized Increase Share Repurchase Program, Of Upto $500 Mln Of Issued&Outstanding Common Stock (LPLA) (markets.businessinsider.com)
- LPL Financial Holdings Inc. (LPLA) Expected to Post Earnings of $0.41 Per Share (americanbankingnews.com)
LPL Financial (NASDAQ:LPLA) traded up $0.51 during trading hours on Thursday, reaching $53.98. The company’s stock had a trading volume of 532,055 shares, compared to its average volume of 717,272. LPL Financial has a 12-month low of $34.01 and a 12-month high of $55.39. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.48 and a current ratio of 1.48. The firm 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 posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. LPL Financial had a return on equity of 26.03% and a net margin of 5.19%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business earned $0.58 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. analysts forecast that LPL Financial will post 2.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Shareholders of record on Thursday, November 9th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Wednesday, November 8th. LPL Financial’s dividend payout ratio is 42.55%.
LPL Financial announced that its Board of Directors has approved a stock repurchase plan on Tuesday, December 5th that allows the company to buyback $359.00 million in shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Several brokerages recently issued reports on LPLA. Credit Suisse Group assumed coverage on LPL Financial in a research note on Thursday, November 30th. They set an “outperform” rating and a $68.00 price target on the stock. Citigroup upped their price objective on LPL Financial from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Nomura upped their price objective on LPL Financial from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research lowered LPL Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Finally, J P Morgan Chase & Co upped their price objective on LPL Financial from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. LPL Financial has an average rating of “Hold” and an average price target of $54.55.
In other LPL Financial news, CEO Dan H. Arnold sold 3,742 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $48.54, for a total transaction of $181,636.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.00% of the company’s stock.
LPL Financial Company Profile
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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