Other equities research analysts also recently issued reports about the company. Citigroup dropped their target price on LPL Financial from $100.00 to $96.00 and set a buy rating on the stock in a report on Thursday, September 19th. Credit Suisse Group dropped their target price on LPL Financial from $110.00 to $98.00 and set an outperform rating on the stock in a report on Tuesday, October 1st. Zacks Investment Research downgraded LPL Financial from a hold rating to a sell rating in a report on Wednesday, October 9th. Jefferies Financial Group assumed coverage on LPL Financial in a report on Tuesday, September 17th. They set a buy rating and a $96.00 target price on the stock. Finally, BidaskClub upgraded LPL Financial from a sell rating to a hold rating in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $88.16.
LPL Financial stock opened at $77.19 on Friday. The stock’s 50-day moving average is $78.14 and its 200-day moving average is $79.08. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.42 and a quick ratio of 1.42. LPL Financial has a 12 month low of $52.03 and a 12 month high of $89.89.
LPL Financial (NASDAQ:LPLA) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.40 billion. LPL Financial had a return on equity of 57.63% and a net margin of 9.77%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $1.30 EPS. Research analysts anticipate that LPL Financial will post 7.1 EPS for the current year.
In related news, CFO Matthew J. Audette sold 12,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $76.67, for a total transaction of $958,375.00. Following the sale, the chief financial officer now directly owns 30,943 shares in the company, valued at approximately $2,372,399.81. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michelle Oroschakoff sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $71.67, for a total value of $358,350.00. Following the sale, the insider now owns 14,297 shares in the company, valued at $1,024,665.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,526 shares of company stock worth $9,234,790. Company insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. WINTON GROUP Ltd grew its stake in LPL Financial by 1.4% during the 2nd quarter. WINTON GROUP Ltd now owns 10,199 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 143 shares in the last quarter. IHT Wealth Management LLC grew its stake in LPL Financial by 1.7% during the 2nd quarter. IHT Wealth Management LLC now owns 9,294 shares of the financial services provider’s stock valued at $758,000 after purchasing an additional 157 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in LPL Financial by 3.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,179 shares of the financial services provider’s stock valued at $503,000 after purchasing an additional 234 shares in the last quarter. Alpha Windward LLC grew its stake in LPL Financial by 4.1% during the 3rd quarter. Alpha Windward LLC now owns 6,039 shares of the financial services provider’s stock valued at $495,000 after purchasing an additional 240 shares in the last quarter. Finally, First Hawaiian Bank grew its stake in LPL Financial by 5.4% during the 3rd quarter. First Hawaiian Bank now owns 5,884 shares of the financial services provider’s stock valued at $482,000 after purchasing an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 93.95% 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 financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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